Crypto Tax – A Big Deal to the IRS Tax professionals that have been on the fence on whether to take the plunge into crypto tax and learn how cryptocurrency works need to look no further than the first page of the new 1040 return! The IRS moved the
What is CryptoMining Binance, one of the world’s largest crypto exchanges defines cryptocurrency mining as “the process in which transactions between users are verified and added into the blockchain public ledger… Mining is also responsible for introducing new coins into the existing circulating supply and is one of the key
In response to several calls from congress for clarity around key crypto tax issues, the IRS released Revenue Ruling 2019-24 in October of 2019, which deals with two uniquely crypto events: airdrops and hard forks. Before we continue, if you’re behind in this series you can start from Part 1
(Behind? Check out why the purchase of goods and services are cryptotax -able crypto events in Part 3.) The (Very) Weird World Of Crypto Crypto can be swapped for other crypto. This is something the financial world has never seen before. Which brings us to our next cryptotax -able event:
Paying In Crypto Click here to read CryptoTax: Events Professionals Ought to Know Part 2 Overstock.com is heralded as the first major retailer to start accepting bitcoin back in January of 2014. Since then several leading e-commerce platforms have followed suit such as Expedia, Shopify, Twitch, and even telecom giant
Read Part 1 here. Crypto Tax Series – Part 2 What Every Tax Professional Ought To Know Crypto Is Booming (Again) Payments company Square, Inc. first allowed Cash App users to purchase and sell bitcoin during the rampant crypto boom of 2017. Since then it has continued to invest in
