Klasing Associates says a transparency report released by the crypto exchange in October should serve as a “major wake-up call” to those who haven’t reported their virtual currency holdings in recent years.
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Gemini, TaxBit partner on tax tools as IRS releases new guidance
The exchange will offer features that help users keep track of tax obligations and reduce their liabilities
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.
