Tag Archives: irs

Not long ago, the Republican dominated House of Representatives passed a bill to decrease funding for the Internal Revenue Service (IRS) by $70 billion. The bill is slated to wipe out support for the 87,000 agents being hired by the Biden administration, and most Americans are breathing a sigh of relief right about now. Biden Is Getting a Taste of His Own Medicine For crypto holders, the news is way better than expected. The fact is that the Biden administration has...

An Ohio native allegedly stole millions of dollars in bitcoin from the Internal Revenue Service (IRS). 31-year-old Gary Harmon has recently pled guilty to one count of wire fraud and a separate count of obstruction of justice after allegedly stealing more than 700 individual bitcoin units from the agency. Gary Harmon Pleads Guilty to Crypto Theft and Wire Fraud The bitcoins in question were taken by law enforcement agents from Gary’s brother Larry Harmon, who ran a...

1.) Crypto.com CEO announces 20% staff cut, ‚did not account‘ for FTX collapse„While we continue to perform well, growing to more than 70 million users worldwide and maintaining a strong balance sheet, we’ve had to navigate ongoing economic headwinds. “https://cointelegraph.com/news/crypto-com-ceo-announces-20-staff-cut-did-not-account-for-ftx-collapse 2.) Miss El Salvador Features Bitcoin in Miss Universe...

Hundreds of crypto-related cases are piling up at the Internal Revenue Service (IRS)’s Criminal Investigation division. According to division chief Jim Lee, many of these cases will be made public soon, of which are largely related to tax. Evading Taxes With Crypto As reported by Bloomberg Tax, some of his division’s most common cases are related to off-ramping (exchanging crypto for fiat currency) and non-reporting of crypto-based pay. “In the last three years I’ve really...

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The US Internal Revenue Service is ramping up its efforts to collect taxes from crypto traders regardless of a 70% market slump. The tax department has obtained a court order authorizing summons for records of US taxpayers that failed to report transactions and pay taxes on crypto profits. Specifically, the IRS will issue what is known as a “John Doe summons” requiring MY Safra Bank to provide crypto transaction data for customers of the SFOX cryptocurrency broker that used...

It looks like the Internal Revenue Service (IRS) doesn’t have as much power as we thought. The agency is offering to pay a man named Joshua Jarrett, who allegedly was denied a refund two years ago after creating new coins through staking. Despite the offer, Jarrett is saying “no” and continuing his case against the tax people in D.C. to ensure the IRS never pursues him on the matter again. Has Crypto Beaten the IRS? In 2019, Jarrett was made to pay income taxes on new...

All transactions above $10,000 now have to be reported to the IRS for documentation and taxation purposes. This comes right after a major market-wide correction which saw the price of bitcoin tumbling down to $30K. IRS Doubles Down The IRS will be expanded with an $80B package aiming to increase their manpower and resources. Individuals and businesses dealing in cryptocurrency will be subject to a higher level of scrutiny, given that the Treasury believes cryptocurrency...

Was passiert wenn eine (Bitcoin-Börse mit dem US-Secret Service kooperiert, zeigt die aktuellste Nachricht rund um Coinbase. Die bekannte US-Börse Coinbase teilt seit neuestem seine Blockchain-Analyse-Tools mit dem US-Secret Service. Das bewirkt vor allem eines, für Bitcoin-Kriminelle wird es in Zukunft noch um einiges schwieriger. Coinbase steht unmittelbar vor dem Börsengang. Die Strafverfolgung über die Bitcoin Blockchain ist nun möglich Bisher waren Kriminelle in der...

Bitcoin: Immer mehr Amerikaner kaufen mit den Geld aus dem Care-Programm Bitcoin. Mit einem Corona-Hilfsscheck sollen rund 70 Millionen US-amerikanische Steuerzahlern finanziell unterstützt werden: Seit wenigen Tagen haben die Auszahlungen begonnen. Ein Grund warum der Bitcoin-Kurs wieder steigt? Gemäss aussagen von Coinbase, investieren nicht wenige das frisch verteilte Geld in Bitcoin. Die Corona-Krise hat Amerika stark getroffen:...