IRS


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IRS Includes NFTs in US Tax Language

The U.S. Internal Revenue Service (IRS) released an updated draft for its 2022 instructions for form 1040 filers that swaps the old category for "virtual currency" with broader new language on "digital assets," including an explicit recognition of NFTs. "The Hash" panel discusses the potential repercussions.

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IRS Serves ‘John Doe’ Summons to sFOX Looking for Possible Tax Evaders

The Internal Revenue Service (IRS) served a “John Doe” summons on crypto prime dealer sFOX earlier this week, sFOX Head of Operations Christopher Behnke said. The move allows the tax agency to hunt for potential tax evaders who are using company services. Behnke added the company is reviewing the document internally and contemplating next steps.

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Coinbase Is Reportedly Selling Geolocation Data to US Government

Cryptocurrency exchange Coinbase is reportedly selling geolocation data to U.S. Immigration and Customs Enforcement (ICE), according to Tech Inquiry’s research. Jack Paulson, the nonprofit’s executive director, discusses the key findings of his analysis, plus insights on Coinbase’s other government contracts with the IRS and FBI.

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Coin Center Sues Treasury Over ‘Unconstitutional’ Tax Reporting Rule

Crypto think tank Coin Center filed a lawsuit against the U.S. Treasury Department and IRS on Friday, claiming a crypto tax reporting requirement enshrined in last year’s infrastructure law is “unconstitutional.”

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Is the IRS Exploring NFTs as a Tax Revenue Source?

Nik De, CoinDesk managing editor for Global Policy and Regulation, joins “First Mover” to provide the latest update in an ongoing lawsuit against the Internal Revenue Service regarding income taxes for staked cryptocurrency on the Tezos blockchain. Plus, a discussion on whether the IRS could be looking into NFTs for tax revenue, and why Ukraine’s minister for Digital Transformation canceled the proposed crypto airdrop.

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Bitcoin Mining Can Generate Significant Tax Revenue

As part of CoinDesk’s Tax Week coverage, Research Analyst George Kaloudis shares insights on how the IRS can collect tax revenue from crypto miners.

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IRS Offers Tezos Staker Refund on Rewards Tax

The Internal Revenue Service (IRS) offered a Tennessee couple a refund on income taxes paid for unsold staking rewards as part of what appears to be a settlement in an ongoing legal fight.

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IRS Offers Tezos Staker Refund on Rewards Tax

The Internal Revenue Service (IRS) offered a Tennessee couple a refund on income taxes paid for unsold staking rewards as part of what appears to be a settlement in an ongoing legal fight. CoinDesk's Global Policy & Regulation Managing Editor Nikhilesh De discusses the latest update from the IRS and why this is a continuing story to monitor.

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Venmo, PayPal, Cash App Must Report Payments of $600 or More to the IRS

New year, new tax requirements. The Internal Revenue Service (IRS) is cracking down on payments received through third-party apps like Venmo, PayPal and Cash App to ensure those using these networks are paying their fair share of taxes. These platforms, coincidentally, also allow crypto purchases. "The Hash" crew discusses the issues of regulation, consumer privacy and impact on small businesses.

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