IRS once again expands its inquiries into how taxpayers are interacting with cryptocurrencies In the newly released draft of the 2022 individual income tax return, the IRS clarified that “receiving” c...
Tag: Tax
Are Embryos Dependents? New Georgia Policy Latest Anti-Abortion Effort To Give Tax Credits During Pregnancy
Topline The Georgia Department of Revenue now classifies any embryo or fetus with cardiac activity as a dependent eligible for child tax credits, part of a broader effort among anti-abortion advocates...
What Kazakhstan’s new tax regime means for the crypto mining industry
On July 11, the President of Kazakhstan, Kassym-Jomart Tokayev, signed new tax rates for crypto mining operators into law. While these amendments reflect the country’s growing frustration with the und...
How Democrats’ New Budget Deal Boosts Tax Credits For Renewable Electricity Production
PALM SPRINGS, CALIFORNIA – FEBRUARY 27, 2019: Wind turbines generate electricity at the San Gorgonio … [+] Pass Wind Farm near Palm Springs, California. Located in the windy gap between So...
Electric Vehicle Tax Credits Likely To Get New Life And A Manchin Makeover
Sen. Joe Manchin talks with the media after a hearing on hydrogen pipelines CQ-Roll Call, Inc via Getty Images In a major win for automakers and future electric vehicle buyers, tax credits for the pur...
House Democrats push for Biden’s billionaire minimum income tax
Erik McGregor | LightRocket | Getty Images As Democrats plow forward with a slimmed-down reconciliation package, House lawmakers are separately pushing another piece of President Joe Biden‘s age...
Bill Ackman slams carried interest ‘loophole’ as Democrats take aim at tax rule
Washington Democrats may have found an unlikely ally in their bid to end a long time tax rule enjoyed by some of Wall Street’s richest executives: hedge fund billionaire Bill Ackman. The Pershing Squa...
Japan Crypto Advocates Propose Tax Cuts to Stem Talent Exodus
Japanese cryptocurrency advocacy groups will petition the government to relax corporate tax regulations, allowing the growth of the country’s digital asset industry. According to Bloomberg, the Virtua...
Japan’s Crypto Lobby Group Push For Tax Cuts; Here’s Why!
Japan’s Crypto Lobby Group Push For Tax Cuts; Here’s Why! | Bitcoinist.com FSA has been in contemplation about the need for a corporate tax a...
Rich Wall Streeters Face Shock Tax Hike While Rest of Wealthy Escape
(Bloomberg) — Wealthy Americans, who were girding for the biggest set of tax increases in three decades just a year ago, now look mostly safe from higher levies for years to come. Most Read from...
Senators Propose Bill Exempting Crypto Tax for Transactions Under $50
In the United States Senate, a bipartisan bill has been introduced to eliminate the burden of paying crypto tax, especially capital gains tax, on cryptocurrency transactions of $50 or less. What exact...
Fundraising Continues with Mighty Hero, DSCVR, Kima Finance, Senate Aims to Reduce Crypto Tax, and Crypto Bears Continue – crypto.news
Fundraising continued today with Play Mighty Hero, Kima Finance, and DSCVR completing successful rounds. The US continues with crypto regulatory attempts as the Senate introduces a bill to reduce taxe...
US Lawmakers’ new Legislation—Seeking Tax Exemption on Small Crypto Transaction
Crypto industry supporters have always asked for concessions from taxes on small crypto transactions. United States Senators asking for regulations of crypto transactions. Before you dive into a...
U.S. Senators Introduce Bill to Exempt Tax for Crypto Transactions Less Than $50 – crypto.news
A bipartisan bill introduced in the Senate is seeking to remove the burden of paying capital gains tax for cryptocurrency transactions worth $50 and below. No Taxation for Small Crypto Transactions T...
A new Senate bill would bill exempt small crypto from capital gains taxes
A new bill that would exempt small crypto transactions from capital gains taxes has entered the Senate. According to an announcement shared with The Block, Senators Pat Toomey and Kyrsten Sinema have ...
Here’s How You Can Avoid Capital Gains Tax on Real Estate
Home prices have nearly doubled in the last 10 years – and that could mean you owe some serious taxes if you are selling your home. After bottoming out around $259,000 in 2011, the average sale ...
U.S. Senators Propose Tax Exemption on Small Crypto Transactions
Lawmakers from both the Democratic and Republican parties have today introduced a crypto tax bill to U.S. Senate that would exempt transactions under $50 or less. Senators Pat Toomey and Kyrsten Sinem...
Crypto Transactions Under $50 May Soon be Exempt From Capital Gains Tax
A new bipartisan bill will change how crypto transactions are taxed As the law currently stands, anyone that uses crypto for any transaction, regardless of amount, must report gains on the value of th...
Mega Millions jackpot is $790 million. If it’s won, here’s tax bill
Scott Olson | Getty Images If you manage to beat the odds and land the next Mega Millions jackpot, don’t forget that Uncle Sam will snatch a slice of the windfall. The top prize has surged to $7...
Superfund Excise Tax Is Catching Many Companies By Surprise
The Superfund Excise Tax went into effect on July 1, 2022, and many companies are still struggling to understand whether it applies to their operations and how to properly estimate their potential lia...
Tax Collector Wants $55 Million From Collapsed Bitcoin Ponzi Scheme MTI — Liquidators Accused of Failing Their Duty – Coinotizia
In a fresh twist to the collapsed bitcoin Ponzi scheme Mirror Trading International (MTI) saga, revenue collector South African Revenue Services (SARS) has demanded $55.3 million from the scheme’s liq...
Tax Collector Wants $55 Million From Collapsed Bitcoin Ponzi Scheme MTI — Liquidators Accused of Failing Their Duty – Taxes Bitcoin News
In a fresh twist to the collapsed bitcoin Ponzi scheme Mirror Trading International (MTI) saga, revenue collector South African Revenue Services (SARS) has demanded $55.3 million from the scheme’s liq...
South Korea postpones crypto tax levy till 2025
South Korea has announced that it has moved its proposed crypto tax imposition on the general public. According to the announcement, the new crypto tax imposition will begin in 2025. This new proposal...
South Korea Delays Crypto Tax Until 2025
South Korean authorities have yet again postponed imposing crypto tax until 2025, mentioned in the official announcement. This new proposal aligns with the new President Yoon Suk-yeol’s view, which is...
South Korea Delays Crypto Tax Plans Again, This Time to 2025
South Korea has once again delayed the implementation of a cryptocurrency tax regime. The 20% capital gains tax will now come into effect in 2025. South Korean authorities have decided to postpone tax...
My wife inherited a 401(k)–what’s the best way to avoid a big tax hit?
Q.: My wife inherited a 401(k) from my mom who died recently. How do we handle this? If she takes her share out will it count as income for us on our taxes? I read that we can’t roll it over into our ...
South Korea Proposes to Defer Planned Crypto Tax Until 2025 South Korea Defers Crypto Tax Plans Until 2025
In a tax reform introduced on Thursday, the South Korean government proposed to postpone the planned 20% tax on crypto earnings for two years. If accepted, crypto earnings in South Korea will be taxed...
South Korea Postpones Proposed 20% Crypto Tax until 2025
For the second time in about two years, South Korean lawmakers have postponed the implementation of the crypto tax policy, which seeks to impose a 20% tax on accrued gains from digital currency transa...
After Terra LUNA Crash S. Korea Delays Crypto Tax
The South Korean government announced a big measure for the virtual asset industry. The authority declared that the taxation of cryptocurrency will be postponed for two years. New Taxation to imply in...