The IRS is ramping up efforts to track down those who fail to pay tax when they sell digital assets for a profit—not to mention those who fill out the relevant forms incorrectly. But exchanges in the space are now attempting to make it easier for their users to abide by the rules.
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Brian Armstrong didn't think deals with the Secret Service and IRS were "particularly newsworthy." Readers disagreed. (Photo: Techcrunch)First the feds, now the taxman: Coinbase inks $125K deal with IRS
The latest contract has the potential to alienate Coinbase’s exchange users—as some are concerned data about their transactions could be passed on to government agencies
Fresh from infuriating some customers after offering blockchain analytics software to the U.S. Secret Service, Coinbase has inked an even more lucrative deal… with the taxman. Records uploaded to a government website show the crypto company signed a contract with the Internal Revenue Service on July 14 that’s worth at least $125,000.
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Crypto tax firm: IRS seeking audit expertise
CryptoTrader.Tax received an email inviting it to bid for work helping the taxman ‘calculate gains or losses,’ but flatly rejected the offer
A platform that helps cryptocurrency traders fill out their tax returns revealed it was invited by the Internal Revenue Service to perform audits… but turned the agency down.
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Accountants call crypto holders ‘alarmingly unaware’ of taxes
A new report on the state of crypto taxation makes for grim reading—and concludes accountants fear many investors likely owe back taxes
The scale of confusion and uncertainty surrounding crypto taxation is so great that half of the American accountants surveyed revealed that they believe most of their clients who own digital assets are likely to be audited.
