The Currency Analytics
By Maheen Hernandez
There was a significant increase in the usage of Altcoins, despite the 2018 bear market. When Bitcoin split, the investors were left with free tokens that they did not pay…
In the history of IRS, there are no guiding Acts to cover for token splits and related taxes. The IRS has to release new guidelines to provide for such instances.
The IRS has recently stated that the investor will have to determine the cost basis reasonably for consistent application of the procedure.
The problem about the reasonability in dealing with the cost basis is also an important question among lawmakers who have stated, “There is particular urgency in resolving the…
The IRS has issued these guidelines only recently, and they have been no so cooperative in the past.
Kevin Brady, the Chairman of House Ways and Means Committee recently sent a letter to the IRS requiring clarity on how cryptocurrencies are to be taxed.
Cryptocurrency is considered to be a property in the United States. And, it is important to pay taxes on every cryptocurrency transaction, even if it is about buying a…
It is not very easy to say whether the reluctance of the IRS to issue taxation guidelines is related to the IRS not liking the cryptocurrency or the IRS not understanding the…
US congressmen urged the IRS to provide clarity concerning BTC, ETH and other cryptocurrencies.
The major areas around, which clarification has been sought to sort the confusion among cryptocurrencies include providing for acceptable methods for calculating the cost basis…
The congressmen have required the IRS to provide a reply by May 15, 2019, which is a month after the US Tax day, which is April 15, 2019.