Cryptocurrency Taxes

Coinbase Ditches US Customer Tax Form That Set Off False Alarms at IRS

Cryptocurrency exchange Coinbase has decided to discontinue sending customers 1099-Ks, the U.S. tax form which led the Internal Revenue Service (IRS) to mistakenly think traders had underreported their gains.  The exchange will instead use the 1099-MISC form, at least for customers who earn interest on lending and similar products, it said in a Tuesday blog …

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IRS Violated ‘Taxpayer Bill of Rights’ With 2019 Crypto Letters: Watchdog

Cryptocurrency users in the U.S. remember July 26, 2019, as the day the Internal Revenue Service (IRS) came out swinging. It now turns out the agency may have been hitting below the belt. That day, for the first time in its history, the IRS demanded thousands of virtual currency-holding taxpayers fess up to unreported crypto …

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