5 Cryptocurrency Tax Tips
Cryptocurrency can create headaches for taxpayers and tax preparers alike. You can make things a little easier on yourself by following these 5 tax tips. 1. Keep detailed records on all your transactions. Sorry everyone, but you can ignore your…
Cryptocurrency Update
The Infrastructure Investment and Jobs Act of 2021 (IIJA) was signed into law on Nov. 15, 2021. The IIJA includes IRS information reporting requirements that will require cryptocurrency exchanges to perform intermediary Form 1099 reporting for cryptocurrency transactions. Generally, these...
Read moreWhat is a “Virtual currency”?
“At any time during 2019, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency? The IRS is now asking all taxpayers to disclose whether or not they had any interest in “virtual currency”…
