The US Government Accountability Office (GAO) issues a study on taxation of cryptocurrency. It recommends that the IRS clarify that part of the 2019 guidance is not authoritative and take steps to increase information reporting, and that the US Financial Crimes Enforcement Network (FinCEN) [...]
The American Bar Association Tax Section provides guidance on the basis calculation of cryptocurrency and when change of accounting method rules may apply.
The Wall Street Blockchain Alliance (WSBA) submits a comment letter to the IRS in January seeking guidance on issues not addressed in Rev. Rul. 2019-24, 2019-44 IRB 1004, and accompanying FAQs.
The IRS Criminal Investigation division indicates it could use data from the cryptocurrency checkbox on the 2019 Form 1040, Schedule 1, in its ongoing effort to use analytics to help identify tax criminals.
The New York State Bar Association’s Tax Section submits a report highlighting technical aspects of cryptocurrency network structures and market operations covered under Rev. Rul. 2019-24 and requesting that the guidance be clarified in light of the technical operations of those
The UK revenue agency HMRC issues a contract to bid for software that will allow it to track digital currency transactions and identify service providers that are using supposedly unbreakable blockchain technology.
