Latest News and Articles about IRS
IRS Grants Bitcoin Holders on CeFi Platforms Tax Relief Until 2025
IRS Grants Temporary Relief to Bitcoin Holders on CeFi Platforms Until 2025 The IRS has announced a temporary reprieve for Bitcoin and crypto holders on centralized finance (CeFi) platforms, providing relief from specific tax reporting rules until the end of 2025. This decision aims to ease the complexities of tax reporting challenges for cryptocurrencies on […]
Read MoreIRS Classifies DeFi Platforms as Brokers: Navigating New Regulatory Challenges
DeFi at a Crossroads: Navigating Crypto Regulations and Compliance The future of decentralized finance (DeFi) hangs in the balance as the IRS unleashes a regulatory storm with new rules that could reshape the industry. On December 27, 2024, the IRS dropped a regulatory bombshell by classifying DeFi platforms and front-ends, the user interfaces of these […]
Read MoreBlockchain Association Sues IRS Over DeFi Broker Rules, Sparks Privacy Debate
Blockchain Association Challenges IRS Over Crypto Broker Rules The battle for the soul of decentralized finance (DeFi) has reached a boiling point as the Blockchain Association and the Texas Blockchain Council take on the IRS in a lawsuit that could redefine the future of crypto. These new regulations, set to take effect in 2027, expand […]
Read MoreIRS Targets DeFi: New 2027 Reporting Rules Impact 2.6M Taxpayers
IRS Shakes Up DeFi: New Reporting Rules Set for 2027 The Internal Revenue Service (IRS) is set to implement new regulations in 2027 that will require decentralized finance (DeFi) front-end platforms to report cryptocurrency sales and transactions. This move aims to align DeFi with traditional financial systems by extending broker reporting obligations to these platforms. […]
Read MoreCrypto Tax Rules in US, UK, EU: What 2025 Means for Investors
This is how crypto tax rules in the US, UK, and EU could impact 2025 investments Cryptocurrency’s growing mainstream presence has put it squarely in the crosshairs of tax authorities worldwide, with the US, UK, and EU stepping up their game to ensure that crypto activities contribute their fair share to public coffers. As 2025 […]
Read MoreIRS’s Crypto Staking Tax Stance Faces Legal Pushback: Jarretts’ Lawsuit Challenges Policy
IRS’s Crypto Staking Tax Policy Scrutinized as Legal Challenges Mount The IRS is under the spotlight for its unwavering stance on taxing cryptocurrency staking rewards as immediate income. This has sparked controversy and legal challenges, most notably from Joshua and Jessica Jarrett. They argue these rewards should be treated as property, taxable only upon sale, […]
Read MoreUS Initiates First Criminal Case for Crypto Tax Evasion, Signaling Regulatory Shift
US Crypto Tax Crackdown: Setting a New Precedent The US government has filed its first-ever criminal case against individuals for not paying taxes on crypto earnings. This landmark action marks a significant step in the regulation of digital currencies, highlighting the government’s commitment to ensuring tax compliance in the burgeoning crypto market. First criminal case […]
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