Starting in 2026, the IRS will introduce Form 1099-DA dedicated to reporting crypto and digital assets. Learn who needs to issue this form and more!
In a significant development for the crypto industry, a federal judge has ruled in favor of Ripple Labs, stating that
The world of cryptocurrency is witnessing yet another legal challenge as Coinbase Global Inc., one of the largest cryptocurrency exchanges,
From copyright and ownership issues to smart contract disputes, the legal implications of NFTs are vast and rapidly evolving.
NFT artists must know their rights and obligations in this new digital landscape to navigate this exciting but potentially treacherous terrain.
For non-cash charitable contributions to a 501(c)(3) organization, taxpayers often need clarification about the rules and regulations surrounding the deductions they can claim on their taxes. One area of confusion is the requirement for a qualified appraisal for cryptocurrency contributions.
In a recent Chief Counsel Advice, the Internal Revenue Service (IRS) addressed the applicability of I.R.C. Section 165 to cryptocurrency that has declined in value. The advice concluded that an individual, who owns cryptocurrency that has substantially declined in value, can deduct the loss under Section 165, since it would be an itemized expense disallowed by the Tax Cuts and Jobs Acts (TCJA).
People often ask: Do Bitcoin and other digital tokens qualify as foreign assets under U.S. law? Answer: Not inherently. Cryptocurrency
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