Should Cryptocurrency Earned Through “Staking” Be Taxed Before It’s Sold? A Tennessee couple, Joshua and Jessica Jarrett, is challenging the IRS over how cryptocurrency earned through a process called “staking” should be taxed. The Jarretts believe that tokens created through
Navigating Tax Obligations for Cryptocurrency Investors Using Custodial Services Cryptocurrencies are performing very well in the market, and digital asset security is an essential need. Cryptocurrency custody services provide a remedy, but their tax implications can be perplexing. This guide
Navigating the Volatile World of Cryptocurrency Investments: Risks, Rewards, and Portfolio Allocation Strategies The cryptocurrency space is trendy with investors but also a dynamic and volatile place to play. This guide examines the main factors that one must consider before
Navigating Tax Implications: Maximizing Compliance and Efficiency in the Evolving Crypto Landscape Cryptocurrency trading platforms are of great importance in the digital economy by providing global exchange services for virtual currencies and tokens. Nevertheless, the complicated tax implications of crypto
Forbes Misinterpreted, Precipitating Events Trigger US Reporting for Now Alert: Virtual currency/crypto/digital assets received in the trade or business from a foreign party are still subject to 8300 reporting. A recent Forbes article Demystifying The $10,000 Crypto Reporting Payment Requirement
Cryptocurrency Transactions, Reporting Guidelines, and Compliance Measures for Businesses If you receive cryptocurrency as a payment, you need to know about the new filing requirement. In general, any business that receives cash (either US dollars or any foreign currency), coins,
How Virtual Reality Technologies And The Metaverse Are Introducing New Tax Challenges, And How Audits Adapt To This Digital Realm. As virtual reality (VR) technologies continue to advance and the metaverse becomes an integral part of our digital lives, taxation
For tax preparers attempting to take into account all the variables, crypto volatility can be a pain. However, cryptocurrency owners can make their accountants’ lives easier by adopting a few best practices. Maintain meticulous records of all your transactions. You
The IRS will receive an allocation of about $80 billion over the next ten years as part of the Act. Many in the crypto sector expect 2022 to be the year of total regulatory and legislative certainty for crypto assets