MIAMI, FLORIDA – JUNE 04: MicroStrategy CEO Michael Saylor speaks at the Bitcoin 2021 Convention (Photo by Joe Raedle/Getty Images) Getty Images What Happened MicroStrategy has been purchasing b...
Tag: Tax
Heading Toward NBA Trade Deadline, Boston Celtics Still Eyeing Luxury Tax
The Celtics, featuring Jaylen Brown (middle), Jayson Tatum (right) and Marcus Smart (left) figure to … [+] remain intact in Febraury. Boston Globe via Getty Images There is a voice calling the C...
‘No one is above the law’: Oil tycoon tried to stiff his ex-wife in a bitter divorce — now he’s going to prison for tax evasion
Todd Kozel made his riches in the oil fields of Kurdistan and now will have to pay the price. The once-jet-setting co-founder and chief executive of Gulf Keystone Petroleum is headed to prison for fiv...
Many Americans could miss this key tax credit this year
For the first time this year, millions of Americans may qualify for a particularly generous tax break — the Earned Income Tax Credit (EITC) — thanks to an expansion of its eligibility requirements. &#...
The IRS will stop sending out one type of taxpayer notice to try to cut down on aggravation this tax season
Trying to minimize aggravation during a tax-filing season that could have plenty of challenges, the Internal Revenue Service said it is pausing one of its notices that could ferment taxpayer frustrati...
Crypto Tax Software Firm CoinTracker Raises $100M to Help Traders Prep for IRS
In brief CoinTracker is crypto tax software. The company has a $1.3 billion valuation. It’s using its $100 million in funding to “scale up the product and company.” With the IRS fili...
Crypto tax platform CoinTracker raises $100 million in Series A funding
CoinTracker, a crypto startup that helps users report and file taxes, has raised $100 million in a Series A funding round. Venture capital firm Accel led the round, with Coinbase Ventures, Kraken Vent...
NFL star’s massive tax bill highlights problems with BTC salaries
NFL Star Odell Beckham Jr’s (OBJ) decision to take his $750,000 salary in Bitcoin appears to have cost him dearly due to the market crash after he signed the deal. Owing to the vagaries of crypt...
Important changes to know for this year’s tax season
Tax season is upon us and there are some key changes in 2022 — including this year’s deadline — but most largely stem from pandemic-era tax legislation. “The pandemic significantly shifted the t...
Coinbase Launches Free Tax Center as IRS Deadline Looms
In brief Coinbase’s new service will help streamline the tedious process of calculating crypto profits. The company does not plan on issuing 1099 forms. Crypto owners are already reeling from a ...
Competitive Balance Tax Revisions Could Spark Major League Baseball’s Labor Negotiations
Brownsburg, IN – December 2: An Official Rawlings Major League Baseball sits with a bat, lock and … [+] chain to represent the lockout between Major League Baseball (MLB) and the Major Lea...
The Huge Tax Bills That Came Out of Nowhere at Vanguard
It’s easy for a small investor to make big mistakes. It would be even easier for giant investment firms to help prevent them—but, sadly, the asset-management industry seems to have other priorities. J...
Bitcoin Millionaires Flock To Puerto Rico To Enjoy Tax Benefits
Advertisement     Bitcoin billionaires are migrating en masse to Puerto Rico for the array of tax benefits that the region offers. Although the numbers are on the ris...
Main Opposition Candidate for President of South Korea Pledges Support for Crypto Tax Exemptions – Taxes Bitcoin News
The leading presidential candidate of the opposition in South Korea has promised voters to ease the tax burden on crypto-related profits through exemptions. In a recent statement, Yoon Suk-yeol indica...
HIFO: The Tax Loophole That Could Be Helping Bitcoin Investors This Tax Season
‘Highest in, first out’ aka HIFO is a tax accounting method that can be a very good thing to know as an investor dabbling In crypto this past year. As we approach tax season and related questions cont...
Crypto tax experts dig into the infrastructure bill’s impact
Episode 2 of Season 4 of The Scoop was recorded remotely with The Block’s Aislinn Keely and Justin Woodward, tax attorney & co-founder of TaxBit and Seth Wilks, Senior Director of SME & Govern...
Bitcoin Millionaires Are Flocking To This North American Tax Haven. But What Do The Locals Think?
Bitcoin has made its own fair share of millionaires and with the recent bull rally, there is no doubt that this number went up drastically. This has led to a number of issues of investors who have mad...
The US Internal Revenue Service is to Hunt Down Tax Evaders Who Use NFTs in 2022
Jan 18, 2022 at 12:14 // News The growing popularity of the NFT industry has caught the attention of US tax authorities. Officials expect the number of tax evasion cases involving NFTs to increase sig...
Three crypto tax issues laid out by ex Thai SEC Chief
Crypto taxation flaws have been put out in the open by Tipsuda Thavaramara The capital gains tax was called unfair and impractical on behalf of exchange operators Value-added tax regulations are exe...
Crypto Rich Flocking to Puerto Rico to Leverage Tax Benefits
Act 60 in Puerto Rico is attracting crypto companies and holders, as residents get to keep their American passports while reaping the benefits of decade-old tax laws. A year-long tropical climate and ...
Georgia’s Film And TV Tax Credit Hits Record $1.2 Billion In Reimbursements
NEW YORK, NEW YORK – AUGUST 03: A street artist paints a large mural for HBO’s “Lovecraft Country” … [+] on a wall in Williamsburg, Brooklyn during Phase 4 of re-opening ...
Oxfam on Covid inequality, tax rich to pay for vaccines, protect climate
A pedestrian wearing a face mask delivers food to a homeless person sleeping in the entrance of a shop, closed due to coronavirus restrictions, in central London on December 23, 2020. Tolga Akmen | AF...
NFT Investors Are Owing Billions In U.S Taxes, Here’s How IRS Plans to Collect Tax
Over time, nonfungible tokens (NFTs) have proven to be one of the hottest sectors in crypto, and now the U.S. government may finally be ready to get its share from this booming sector. According to a ...
New York State Tax Receipts Surge to $12.9 Billion Over Forecast
(Bloomberg) — New York state tax revenue soared to $84.4 billion in the first nine months of the fiscal year, $12.9 billion more than forecast, bolstered by a business tax established in April a...
NFT Market Participants Could Face Stiff Tax Penalties In the U.S.
As the NFT market boomed in 2021, so do the questions around taxation come the next tax season. The Internal Revenue Service wants its share of the NFT booty. There is a lack of clarity on how NFT hol...
Tax season: Regulations unclear, experts advise early prep for taxes on crypto, NFT
While the interest in crypto markets skyrocketed, the NFT craze also saw a massive surge through the last year. However, it’s now time for the taxmen to check for tax liabilities from profits in these...
Major City Investing One-Percent of Its Treasury in Crypto, Mulling Possible Bitcoin Tax Discount
Another major metropolis is jumping headfirst into the world of crypto by investing in the digital space and proposing discounts for citizens paying taxes in Bitcoin (BTC). Rio de Janeiro, the South A...
Rio De Janeiro Plans To Buy Bitcoin With City’s 1% Reserve; Tax Discounts Also To Be Offered
Brazil’s second most populous city, Rio de Janeiro, is all set to buy Bitcoin with 1% of the city’s treasury reserves, said Eduardo Paes, the city’s mayor. Rio will be the first-ever Brazilian city to...
The IRS will ask every taxpayer about crypto transactions this tax season — here’s how to report them
Cryptocurrencies, also known as virtual currencies, have gone mainstream. That’s for sure. For example, you can use bitcoin BTCUSD, -0.21% to buy a Tesla TSLA, -6.75% and to buy or pay for lots of oth...
Opposition Mounts to Crippling Crypto Tax in Thailand
Opposition from both sides of the political divide is mounting in Thailand over the revenue department’s proposed 15% capital gains tax on crypto trading profits. Earlier this month, Thailand’s revenu...
These Five States Just Eliminated Income Tax on Military Retirement
military retirement tax Serving in the military is a hard job, with many service members spending long lengths of time away from their family and putting their lives on the line. There are perks that ...