25 Nov '16, 1pm

The IRS Must Adapt to Cryptocurrency Not Accuse Bitcoin Users of Tax Avoidance

The IRS Must Adapt to Cryptocurrency Not Accuse Bitcoin Users of Tax Avoidance

It was recently reported that the IRS filed a petition in US federal court seeking full disclosure of Coinbase’s American customers records over just two alleged cases of tax avoidance by users of the bitcoin exchange. The summons came shortly after the Treasury Department’s inspector general issued a report chastising the IRS for not taking more aggressive action to curb “unlawful activities by those who use virtual currencies.” While there are still so many discrepancies about how best to identify Bitcoin and how cryptocurrency gains and losses should be recorded and filed during tax time, more questions remain. How best can users follow such underdeveloped guidelines without getting into trouble? What potential solution could support those who have acquired a substantial amount of Bitcoin and want to prevent undergoing a tax evasion? We turned to an expert in the field ...

Full article: http://www.financemagnates.com/cryptocurrency/interview/t...

Tweets

The IRS Must Adapt to Cryptocurrency Not Accuse...

reddit.com 26 Nov '16, 4pm

Submissions must be primarily news and developments relating to technology Self posts must contribute positively to /r/tec...

Expert: Any Bitcoin Exchange May Follow Coinbase Requested By IRS To Expose Users

Expert: Any Bitcoin Exchange May Follow Coinbas...

cointelegraph.com 26 Nov '16, 1pm

The U.S. Internal Revenue Service (IRS) is coming under increasing scrutiny following its request to view the transaction ...

IRS Wants to Identify Bitcoin Users, Spy Into C...

blogs.findlaw.com 29 Nov '16, 6pm

The IRS is looking for tax money wherever it can, but is finding that it's not so easy in the world of virtual currency. B...

There's more to cryptocurrency than just Bitcoin

There's more to cryptocurrency than just Bitcoin

bloomberg.com 28 Nov '16, 3pm

Start your day with what’s moving markets. Get our markets daily newsletter. Sign Up Business Your daily briefing on the m...

15 Awesome Instagram Accounts for Beautiful Bir...

audubon.org 25 Nov '16, 11pm

A White-tailed Ptarmigan from The Living Bird, a new book from iLCP Fellow @gerritvyn and The Cornell Lab of Ornithology. ...

Bitcoin targeted by the #IRS #cryptocurrency #bitcoin

Bitcoin targeted by the #IRS #cryptocurrency #b...

newstarget.com 04 Dec '16, 11am

Often referred to as the people’s currency , Bitcoin has been controversial since its inception. Since Bitcoin doesn’t req...

Bitcoin Exchange Ordered to Give IRS Years of D...

gizmodo.com 01 Dec '16, 3am

On Wednesday, a federal judge authorized a summons requiring Coinbase, America’s largest Bitcoin service, to provide the I...

The IRS Believes All Bitcoin Users are Tax Cheats

cato.org 18 Nov '16, 8pm

The Internal Revenue Service has filed a “John Doe” summons seeking to require U.S. Bitcoin exchange Coinbase to turn over...

Bitcoin service ordered to hand over two years ...

theverge.com 30 Nov '16, 9pm

Today in Northern California District Court, a federal judge ordered the Bitcoin wallet service Coinbase to hand over reco...

Uganda Considers Future Cryptocurrency Regulations

Uganda Considers Future Cryptocurrency Regulations

news.bitcoin.com 26 Nov '16, 11am

Dr. Mapp detailed the main people in the Bitcoin space, companies, miners, and users involved with cryptocurrencies. More ...

Bitcoin Exchange Ordered To Give IRS Years of D...

yro.slashdot.org 01 Dec '16, 8pm

Last month, instead of asking for data relating to specific individuals suspected of a crime, the Internal Revenue Service...

IRS requests Bitcoin buyer records in broad tax...

fortune.com 21 Nov '16, 12am

IRS Requests Bitcoin Buyer Records in Broad Tax Evasion Case As first reported by Motherboard , the Internal Revenue Servi...

IRS Requests Bitcoin Buyer Records in Broad Tax...

fortune.com 20 Nov '16, 9pm

IRS Requests Bitcoin Buyer Records in Broad Tax Evasion Case Ars Technica reports that the Internal Revenue Service is see...

IRS vs Coinbase: Massive Implications for Bitcoin, Digital Currencies

IRS vs Coinbase: Massive Implications for Bitco...

bitcoinmagazine.com 23 Nov '16, 9pm

The recent Internal Revenue Service request to Coinbase, seeking records of customers who purchased virtual currency from ...