bitcoin

Treasury Takes Big-Picture View With Newest Crypto Proposal

After a bit of a delay, Treasury has proposed regulations outlining who in the cryptocurrency industry is a “broker” and hence obligated to provide the...

September 19, 2023John Buhl

Business Taxes: TaxVox

A New Solution for Taxing Cryptocurrency Staking

Taxing digital assets poses many tax policy puzzles. So many, in fact, that the Senate Finance Committee recently asked for advice on how to do...

July 31, 2023Donald Marron

Individual Taxes: TaxVox

The FTX Debacle Could Alter the Crypto Policy Landscape

The multi-billion-dollar collapse of cryptocurrency exchange FTX has raised important questions about the framework government is relying on to collect taxes from crypto investors ...

November 21, 2022John Buhl

Business Taxes: TaxVox

A Problematic Crypto Tax Break Introduced in the Senate

Sens. Cynthia Lummis (R-WY) and Kirsten Gillibrand (D-NY) today unveiled cryptocurrency legislation that seeks to provide regulatory clarity on a range of issues, including taxes...

June 7, 2022John Buhl

Individual Taxes: TaxVox

Biden Budget Takes Crypto Compliance Efforts Global

Cryptocurrency compliance is going global. But is the US ready to tackle compliance with foreign exchanges and accountholders before it finishes developing reporting rules for...

April 11, 2022John Buhl

Individual Taxes: TaxVox

Crypto Tax Challenges Just Keep Growing

IRS Commissioner Charles Rettig raised some eyebrows when he singled out the growing popularity of cryptocurrency as a big factor behind the sizeable tax gap—the...

February 11, 2022John Buhl

: TaxVox

What’s Love Got to Do with It? Not Much, in Congress

The Senate won’t “Bring Home Jobs…” at least not through the bill that would have denied tax deductions for costs of moving corporations out of the country. The Bring Home Jobs Act needed 60 votes to pass but received only 54. The House GOP may vote to put the estate tax to death. They’ve been

July 31, 2014Renu Zaretsky

Individual Taxes: TaxVox

You Could Owe Capital Gains Taxes When You Spend Bitcoin

The IRS determined this week that Bitcoin and other digital currencies should be taxed as property, not currency. This means Bitcoin transactions will be taxed as capital gains, not as ordinary income. But, perhaps surprisingly , the act of spending Bitcoin could trigger capital gains taxes. Thus,

March 27, 2014Steven M. Rosenthal

Individual Taxes: TaxVox

Taxing Bitcoin

By now most everyone has heard of bitcoin. But exactly what is it? And how should it be taxed? Bitcoin is usually described as virtual...

January 7, 2014Howard Gleckman