A few days ago, Senate Majority Leader Chuck Schumer (D–NY) unveiled his solution for rising prices: higher taxes. This episode of What’s Ahead lays out why Schumer’s nostrum is the economic equivalen...
Tag: Tax
Johnny Depp & Amber Heard Have Tax Issues Too
It’s hard to look at the spectacle but curiously hard to look away too. In some ways, it can make you feel lucky that you’re not among the rich and famous. Do they have tax problem, too? Surprisingly,...
Senators are proposing a tax exemption for capital gains on cryptocurrencies for upcoming new legislation – should users be worried?
Senators Cynthia Lummis (R-WY) and Kirsten Gillibrand (D-NY) are proposing a tax exemption for capital gains on cryptocurrencies up to a specific amount as part of upcoming legislation to regulate cry...
Germany is the number one tax haven for crypto investors with 0% tax rates
Germany has recently made news for being a crypto-friendly nation that encourages citizens to hold their cryptocurrency. The German Federal Central Tax Office regards cryptocurrencies as private money...
The Ultimate UK Cryptocurrency Tax Guide 2022
With being an almost brand new asset class compared to most, cryptocurrencies quickly crept onto HMRC’s radar in need of taxation advice as the total market cap of all cryptocurrencies exceeded one tr...
Senators Propose New Crypto Bill Limiting Capital Gains Tax
Democrat Senator Kirsten Gillibrand (D, NY) and well-known pro-crypto Senator Cynthia Lummis (R, WY) have drafted a proposal exempting crypto capital gains of less than $600 from being taxed. A new co...
Chinese cities accept CBDC for tax payments 1
TL; DR Breakdown Cities in China accept CBDC for tax payments China set to test digital yuan at Asian Games Chinese cities airdrop digital yuan to residents The thought process behind creating Central...
Panama Approves Regulatory Law Allowing for Crypto Tax Payments
The Panamanian Legislative Assembly has passed a bill regulating the commercialization and use of cryptocurrencies. Once signed by the President, it will enable residents of the country to pay their t...
‘Bizarre’ Potential $7.1 Billion Tax Bill Sinks Amgen Shares
(Bloomberg) — Shares of Amgen Inc. fell the most in a year after the company disclosed that it is facing a potential tax bill of at least $7.1 billion from the U.S. Internal Revenue Service. Mos...
Buenos Aires Mayor Touts Plan That Permits Tax Payments in Bitcoin
Buenos Aires Mayor Horacio Rodriguez Larreta today gave a virtual presentation touting ways to optimize city government, one of which is allowing residents to pay taxes in cryptocurrencies such as Bit...
IRS And Foreign Tax Enforcers Warn NFTs Pose Growing Money Laundering Risks
Global regulators issued a new warning about how criminals can use NFTs for money laundering. Eva Marie Uzcategui/Bloomberg On Thursday, global regulators issued a new warning of the growing risks of ...
Powerball’s $473.1 million jackpot has a winner. Here’s the tax bill
Joe Raedle | Getty Images News | Getty Images A single lottery ticket sold in Arizona is about to change someone’s life — after the IRS takes a piece of the windfall, of course. Wednesday night&...
Indian Crypto Exchanges’ Trading Volume Continues to Dive Following New Tax Law; Cryptos Higher
The largest cryptocurrency by market capitalization was recently trading just over $39,200, up over 2% over the last 24 hours. Ether, the second-largest crypto by market cap, was changing hands at rou...
Argentinian Tax Agency Supports Creation of Global Crypto Report System to Avoid Evasion – Taxes Bitcoin News
The AFIP, the Argentinian tax agency, is supporting the creation of a centralized system that serves as a registry for cryptocurrency holders. According to statements from its head, this would make it...
New tax laws in Puerto Rico are attracting Crypto Influencers
4,000 companies have relocated to Puerto Rico Puerto Rico has hosted cryptocurrency conferences and set up beginners’ courses for locals to learn the basics The island is prone to many natural disast...
Crypto tax calculator Koinly integrates with Terra LUNA
Koinly, a platform that helps to calculate crypto tax with reports from over 20 countries, including the US, UK, Brazil, and most EU countries, has announced a new integration with Terra. Users of the...
Crypto tax calculator Koinly integrates Terra into its platform
Crypto tax calculation platform Koinly added Terra (LUNA) wallet support to make tax calculation easier for LUNA holders as the Canadian tax report deadline draws near. Tony Dhanjal, head of tax at K...
Crypto Influencers Are Moving To Puerto Rico Because Of The Tax Laws. Positive?
The latest The Times article qualifies Puerto Rico as “home to one of the world’s first cryptocurrency communities.” Are they exaggerating or are they on to something? Apparently, favorable tax laws h...
Tax Season, ETFs, and Ross Ulbricht
Be[In]Crypto brings you news from April 18 to 24, ranging from the IRS and cybersecurity attacks to Russia, ETFs, and Ross Ulbricht forfeiting $3 billion worth of Bitcoin to the federal government. Do...
NFTs Are Continuing To Cause Accounting Issues, Even After Tax Season
Getty SOPA Images/LightRocket via Getty Images With the filing deadline for individual tax returns quickly fading into the rearview mirror, it is tempting for accounting and financial planning profess...
‘The issues with the IRS are still present and very real’: Millions of Americans are racing to file their tax returns, and filing extensions
Tax Day came and went earlier this week, so if your upcoming weekend plans are just chilling after the last-minute tax time bustle, you might have company. April 18 marked the deadline in most states ...
Here’s what to do if you missed the April 18 tax filing deadline
Sergey Mironov | Moment | Getty Images If you missed the April 18 tax deadline, you may cut back on penalties by filing your return promptly, according to the IRS. While it’s too late to reques...
US IRS To Start Crackdown on NFT Traders for Tax Evasion – crypto.news
According to a recent report, the US IRS plans a crackdown on NFT investors who evade tax. However, many NFT stakeholders complain that there are no clear tax regulations around NFT. IRS Crackdown on ...
WazirX Relocates From India to Dubai Amid Heavy Crypto Tax Regulations
5 hours ago | 2 mins read Editors News Sameer Mhatre, WazirX’s co-founder and CTO would continue to operate in India. The organization’s employees are scattered over more than 70 distinct locations. W...
30% Crypto tax forcing Indian investors to stop trading and infrastructure to move overseas
The new Indian tax law came into force on March 31, which obliges citizens trading in crypto to pay capital gains tax of 30% on their crypto. In addition, they will pay a 1% tax deducted at source on ...