The Biden administration is submitting a budget proposal for the 2023 financial year. The budget proposal comes as the US Treasury Department releases its revenue explanations. It is estimated that th...
Tag: Tax
Indian Parliament Member Asks Government to Tax Crypto Income More Than 30% – Taxes Bitcoin News
An Indian parliament member has urged the government to increase the tax on crypto income from the current proposed rate of 30%, stressing that crypto trading is similar to gambling. He has also reque...
India’s Crypto Community Faults Passage Of 30% Crypto Tax Law
India’s approval of the Finance Bill has spurred different reactions from both the crypto community and the broader finance industry. The bill, announced by India’s lower house of the bicameral parlia...
Indian Government Reveals 11 Crypto Exchanges Investigated for Tax Evasion, $13 Million Recovered – Taxes Bitcoin News
The Indian government has revealed that 11 cryptocurrency exchanges have been under investigation by the country’s tax authority. About 95.86 crore rupees ($12.6 million) have been recovered from them...
Senate Finance Committee Chair probes “lack of safeguards” in crypto tax incentives
Democratic Senator Ron Wyden is digging into the activities of crypto companies that take advantage of tax breaks provided by the Opportunity Zone program. Senator Wyden’s main concern stems from the ...
11 Crypto Exchanges Fined for Tax Evasion in FY22: Indian Minister 11 Crypto Exchanges Were Fined for Tax Evasion FY22: Indian Minister
The evasion of Goods and Services Tax (GST) by crypto exchanges was figured in the Indian Parliament on March 28. Minister of State for Finance Pankaj Chaudhary informed that 11 such digital asset pla...
Why Biden’s Hostile Tax Proposal Threatens Crypto Investors
Crypto investors could tumble if Biden’s expected proposal for a minimum 20% tax on unrealized gains were to pass Congress. The harsh “eat the rich” measure has been described as unworkable and uncon...
Crypto tax rules will reduce US budget deficit by $11B over ten years — White House
The United States government’s budget for the 2023 fiscal year included roughly $11 billion in revenue over the next decade from modernizing rules around digital assets. According to U.S. President Jo...
New Tax On High Earners And Billions For Police, Housing And More
Topline President Joe Biden on Monday released a $5.8 trillion budget proposal for the upcoming fiscal year packed with Democratic legislative priorities such as affordable housing and healthcare, in ...
What We Know About The Proposed Tax On America’s Richest 0.01%
Topline As part of his proposed budget for the upcoming fiscal year, President Joe Biden on Monday released a proposed minimum income tax rate applying to the highest-earning Americans, marking the fi...
Indian Govt. Charges 11 Crypto Exchanges For Tax Evasion
The Indian government had accused 11 crypto exchanges, including WazirX, CoinDCX, CoinSwitch Kuber, of tax evasion, said Minister of State for Finance Pankaj Chaudhary in a written response to the Par...
The OECD Wants More Visibility Into Your Cryptocurrency Activity
Secretary of State Antony Blinken speaks during a press briefing with Mathias Cormann, Secretary-General of the Organization for Economic Cooperation and Development, at the OECD’s Ministerial C...
India Passes Controversial Crypto Tax Laws, Effective on April 1
India’s parliament announced last Friday that it passed the Finance Bill 2022, which has introduced taxation on digital assets including cryptocurrencies. The new law has imposed a 30% capital gains t...
Florida Working Towards Accepting Bitcoin for Tax Payments : Governor
Florida governor working towards allowing the state’s government to accept tax payments in crypto DeSantis argued that there are hazards related to federally controlled digital currencies The governor...
Rio de Janeiro to Accept Crypto Property Tax Payment from 2023
Rio de Janeiro is gearing up to be the first city on Brazilian soil to accept tax payment in cryptocurrencies from 2023, according to Bloomberg Linea. As a result, plans are underway for the municipa...
Brazil’s Rio De Janeiro Ready To Accept Bitcoin For Property Tax Payments Starting Next Year ⋆ ZyCrypto
Advertisement     The Brazilian city of Rio De Janeiro is making huge steps towards becoming a global hub for the cryptocurrency industry. Come 2023, residents of Rio ...
Oscar Nominees Pay Tax On $140,000 ‘Gifts’—IRS Form 1099 Says No Gift
Everyone likes free stuff, no matter who they are, and the Academy Awards every year hands out pricey gifts. Maybe things are more austere this year, since a gift bag for top nominees in the past has ...
Last-Minute Tax Deductions to Take in 2022
SmartAsset: Last-Minute Tax Deductions to Take in 2022 With tax season in full swing and the April 18 filing deadline rapidly approaching, many Americans are once again wondering whether they should t...
Biden to propose new minimum tax on wealthiest Americans
Joe Biden will call on Congress to introduce a new minimum tax targeting the investment income of the wealthiest Americans as part of a new budget proposal. In a statement released on Saturday, the Wh...
South Korea, Britain, Bulgaria to Join Forces to Combat Crypto Tax Dodgers (Report)
South Korea’s National Tax Agency’s chairman Kim Dae-Ji held a meeting this week with tax executives from Bulgaria and Britain to discuss the “rise of tax-dodging schemes” through the use of digital ...
Rio De Janeiro To Enable Crypto Tax Payments Starting Next Year
Rio de Janeiro, Brazil’s second-largest city, will begin accepting cryptocurrency payments for property taxes in 2023, reports said Saturday. According to a notice from the City Hall of Rio de Janeiro...
Biden Administration Reportedly Set To Propose Minimum Tax On Billionaires
Topline The White House will propose a direct tax on the 700 richest Americans as part of its 2023 budget proposal, the Washington Post reports, aiming to raise an estimated $360 billion over 10 years...
Brazil’s Second Largest City To Accept Tax Payment In Crypto By 2023
Rio De Janeiro, Brazil’s most populous city, is taking major strides towards becoming a global crypto hub. Rio will become the first Brazilian city to accept property tax (IPTU) payments in crypto, st...
How to avoid a tax filing rejection if last year’s return is pending
Drakula & Co. | Moment | Getty Images The IRS is backlogged and still sifting through tens of millions of pending returns, including many of last year’s filings. If your 2020 return is part ...
Opinion: Preparing for the great sunset: What you need to know if tax code provisions expire
The hot equities and housing markets have contributed to a surge in U.S. household wealth during the pandemic. According to the Federal Reserve, household wealth grew by $19 trillion to $137 trillion ...
Are Funeral Expenses Tax Deductible?
Are Funeral Expenses Tax Deductible? When a loved one passes away, most families hold a funeral to mourn, remember the deceased’s life and pay last respects. While these events are a good way to...
DeSantis Says Florida Should Let Businesses Pay Tax in Crypto
Ron DeSantis says the state will accept BTC for tax payments BTC Price at the time of writing – $42,057.81 Francis Suarez said he will receive his paycheck in Bitcoin Florida Governor Ron DeSant...
Mixed Reactions Trail India’s Passage of 30% Crypto Tax Law
Reactions have been pouring in from stakeholders in the crypto and digital assets industry in India following the approval of the country’s Finance Bill 2022 on Friday by Lok Sabha, the lower house of...
Crypto tax policy framework passes India’s parliament despite pushback from lawmakers
A tax framework on cryptocurrencies introduced by India’s Finance Minister Nirmala Sitharaman will become law in the country after being passed as an amendment to the Finance Bill. On Friday, India’s ...