Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto indu...
Tag: Tax
Much Crypto Trading On Unregulated Platforms Could Be Phony, New Research Shows
LONDON, ENGLAND – DECEMBER 07: A visual representation of the digital Cryptocurrency, Bitcoin on … [+] December 07, 2017 in London, England. Cryptocurrencies including Bitcoin, Ethereum, a...
MicroStrategy’s Bitcoin Wash Trade is Still Legal… For Now
The waning days of 2022 may be US crypto traders’ last chance to take advantage of a tax loophole that doesn’t exist in traditional finance: wash trading. At least if certain politicians have their wa...
Leased electric vehicles now qualify for $7,500 tax break that kicks in Jan. 1
The U.S. Treasury Department will now allow electric vehicles that are leased to qualify starting Jan. 1 for up to $7,500 in clean vehicle tax credits. The law allows for a conditional $4,000 tax cred...
Italy Passes 26% Crypto Tax Bill on Earnings Above €2000
Bitcoin News Cryptocurrency dealers in the nation will feel the effects of the ruling. On Thursday the parliament passed the new amendment. Giorgia Meloni, the prime minister of Italy, has pushed thro...
Italy imposes 26% tax on cryptocurrency gains in 2023 budget
Coindesk reported via a Tweet on Dec.30 that the Italian parliament has approved a new capital gains tax on cryptocurrency gains in its 2023 budget. The tax, which will take effect on Jan.1,2023, is s...
Italians to pay 26% crypto gains tax from 2023
The Italian Parliament has approved the implementation of a 26% taxation on any crypto-oriented profits above €2,000 on Dec. 30. This new legislation is a part of the 2023 Italian budget. The budget ...
Is Congress Weaponizing The IRS By Releasing Trump’s Tax Returns?
The decision to publicly release Trump’s tax returns raises questions of “weaponizing” the IRS. Getty Images Every politician’s favorite fantasy is now one step closer to reality. Wi...
Why Trump didn’t want you to see his tax returns
What’s he been hiding? We’re finally beginning to find out, now that the House Ways and Means Committee has released six years’ of Donald Trump’s personal and business tax returns. Trump’s returns are...
EV tax credit for consumer leases a ‘positive development for industry’
The Treasury Department and the IRS issued some new guidelines on the Inflation Reduction Act’s (IRA) EV tax credit, and for the time being it is bringing foreign automakers — and U.S. consumers — som...
Italian Parliament introduces a crypto capital-gains tax in the 2023 budget
Italian cryptocurrency traders will be required to pay a hefty 26% capital-gains tax starting from 2023. However, this is part of the nation’s latest budget passed through Parliament. Giorgia Meloni, ...
Democrats release six years of Trump’s tax returns, and CPAs have questions: ‘The personal tax return is just the tip of the iceberg.’
The nonpartisan committee’s findings also raised several red flags related to the filings, namely Trump’s carryover losses, loans to his children that may or may not also be considered taxable gifts, ...
Italian lawmakers approve 26% capital gains tax on crypto: CoinDesk
Italy’s Parliament has approved a 26% capital gains tax on crypto, according to a report from CoinDesk. The tax, in the works since earlier this year, will be levied on profits in excess o...
House Releases Trump’s Tax Returns
Topline The House Ways and Means Committee released six years of former President Donald Trump’s tax returns on Friday, after years of legal battles, days before Republicans are set to take control of...
Here’s what tax pros are looking for in Donald Trump’s returns
Donald Trump’s tax returns — long the subject of speculation and a bitter legal fight — are set to be made public. After last week releasing a summary of the IRS’ efforts to audit the form...
What’s The Earliest Date To File Taxes In 2023? How To Get The Quickest (And Biggest) Tax Return
| SOPA Images/LightRocket via Getty Images Key Takeaways The earliest the IRS accepts tax filings is the end of January. Expect an official date from the IRS sometime in mid-January. Filing your taxes...
Donald Trump paid $0 in taxes in 2020. He’s not alone: 60% of households paid no federal income tax that year, but for very different reasons.
It’s not that unusual. Former President Donald Trump and his wife, Melania, paid $0 in income taxes for 2020, according to a report released late Tuesday by the congressional Joint Committee on Taxati...
ExxonMobil Sues Europe Over Whether Its New ‘Windfall Profits’ Tax Is Really A Tax
Brussels, BELGIUM: A view of the Berlaymont building, headquarters of the European Union Commission. … [+] AFP PHOTO / DOMINIQUE FAGET (Photo credit should read DOMINIQUE FAGET/AFP via Getty Ima...
Singapore to raise goods and services tax in January
Singapore’s goods and services tax will be raised to 8% in January 2023. Ore Huiying | Bloomberg | Getty Images Come Jan. 1, Singapore will raise its goods and services tax, otherwise known as t...
Here’s How To Reduce Your Cryptocurrency Tax Bill Before Year End
Crypto Tax: Tax is imposed by every government and is a compulsion. So, to reduce this heavy load that comes on your shoulder, we have looked at ways in which you can reduce crypto tax. Harvesting tax...
Interested in purchasing an electric car? This 2023 tax credit could help.
Starting Jan. 1, many Americans will qualify for a tax credit of up to $7,500 for buying an electric vehicle. The credit, part of changes enacted in the Inflation Reduction Act, is designed to spur EV...
MicroStrategy sold bitcoin worth $11.8 million for tax benefits
MicroStrategy sold bitcoin for the first time since it began to hold the asset on its corporate balance sheet, liquidating 704 bitcoin worth $11.8 million at the time of sale, according to a Form 8-K ...
IRS ditches new tax requirement for now that would have caused ‘lots of confusion’
The Internal Revenue Service is delaying the new $600 reporting threshold for 1099-K tax forms, a move many tax experts believe will help avoid potential chaos this upcoming filing season. The updated...
With this simple year-end change to your retirement accounts, you can reap significant tax rewards
If you are a middle-income earner, you may be in a much better position tax-wise than you realize. That’s good news: You may be able to take advantage of that better position to strengthen your retire...
Avoiding a Big Tax Bill on Real Estate Gains
Owning real estate is a big dream for many investors. But it’s a huge investment—one that can be fairly lucrative. Selling a rental property for a huge profit can be a dream come true. Still, to...
Is Margin Interest Tax Deductible?
Is Margin Interest Tax Deductible? The world of investing is vast, exciting and often expensive for individual traders. Occasionally, you’ll encounter an investment opportunity you don’t want to pass ...
IRS Delays $600 Crypto Tax Threshold, Citing Need To Clarify Conditions Before Rollout
The Internal Revenue Service (IRS) is delaying rolling out its new $600 reporting threshold for third-party settlements, saying that more clarity is needed before it can kick off. In a new press relea...
US Government Delays Tax Reporting Rules for Cryptocurrency Brokers – Taxes Bitcoin News
The enforcement of a requirement for brokers to report gains made by crypto investors has been postponed by the U.S. Treasury Department and the IRS. The new tax rules, incorporated into the $1 trilli...
IRS likely won’t clear its tax return backlog before 2023 begins, report finds
The Internal Revenue Service will likely fail to clear its huge backlog of tax returns this year, an IRS watchdog reported this week, again leaving many U.S. taxpayers waiting for their returns — and ...
Opinion: Opinion: Trump’s low tax payments are what happens with a too-complex tax code
People tend to have one of two reactions to the revelation that former President Donald Trump paid little to no taxes in recent years: He’s either an amoral tax cheat or he’s smart. To me, it reveals ...