RATE Group | If This Is You, You May Not Need to Report Crypto Tax Gains to the IRS
76601
wp-singular,post-template-default,single,single-post,postid-76601,single-format-standard,wp-theme-bridge,wp-child-theme-bridge-child,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

If This Is You, You May Not Need to Report Crypto Tax Gains to the IRS

22 Jan If This Is You, You May Not Need to Report Crypto Tax Gains to the IRS

Posted at 04:06h in Cryptocurrency News by

[ad_1]

It’s a new year, and this means that last year’s calendar and tax year have come to a close, and it’s time once again to start tallying up your crypto holdings, gains, and losses, to figure out exactly what you need to report to the IRS in order to comply legally with your obligation as a taxpayer.

However, a specific subset of United States taxpayers may not have to report any crypto gains in the future at all – if they fall within a certain category –according to a new tax law change proposed by the House of Representatives.

New Crypto “Fairness Act” Bill Reaches House of Representatives

It’s tax season once again. A time for stress, scrambling, and uncertainty that you’ve properly reported every penny earned or lost as accurately as humanly possible.

Things are especially complicated for crypto investors and traders, who are stuck adhering to archaic tax laws designed for the sale or trade of property, and not currencies as cryptocurrencies like Bitcoin and XRP are…

[ad_2]

Source link

Tags:
, , , ,