A California federal magistrate judge recommends that a court uphold an IRS summons seeking data on an individual’s Coinbase Inc. holdings but narrow the date range of the information requests.
A Pennsylvania anesthesiologist is sentenced to 30 months in prison for concealing assets and income from the IRS in offshore bank accounts, cryptocurrency, and gold for a total tax loss to the United States of $900,000.
The IRS will announce it will consider private letter rulings to address cryptocurrency questions not covered in the Agency’s October 2019 guidance.
The IRS adds two questions to its list of frequently asked questions (FAQs) on virtual currency transactions for taxpayers who hold virtual currency as a capital asset, providing information on donor acknowledgment and reporting requirements for charities that accept virtual currency donations.
Bithumb, a major South Korean cryptocurrency exchange, is assessed a KRW 80.3 billion (around $69 million) tax assessment for unpaid withholding tax.
In a December 20 letter to Treasury Secretary Steve Mnuchin, five senators advocate to strengthen the IRS Criminal Investigation division to better combat tax fraud, tax evasion, and money laundering
The Wolf Group, PC (TWG), a global tax advisory firm, today proudly announces a new equity partner. Len Wolf, CPA, Founder and Managing Director of The Wolf Group, PC says “It is with much satisfaction and enthusiasm that I want to officially announce that [...]
Dear Client: We look forward to providing you with tax return preparation services this year! The purpose of this letter and attached “Additional Engagement Terms” is to specify the terms of our engagement and clarify the nature and extent of the services we will [...]
At this time last year, US taxpayers were gearing up for their first tax filing season under the new Tax Cuts and Jobs Act (TCJA). Everyone was wondering what their taxes would look like and what to expect under the new tax laws. We [...]
The US District Court for the Western District of Washington indicates that the IRS cannot request information on an individual’s Bitcoin holdings beyond that needed to determine the gain or loss on cryptocurrency transactions for the tax year under investigation.
