IRS
IRS stands for Internal Revenue Service which is an official website of the United States. It is the nation's tax collection agency and administers the Internal Revenue Code enacted by Congress.
Official Committee of Unsecured Creditors of FTX Responds to IRS's $44 Billion Claims
The Official Committee of Unsecured Creditors of FTX, a now-bankrupt cryptocurrency exchange, has publicly responded to the U.S. Internal Revenue Service's (IRS) staggering $44 billion in claims against various debtors affiliated with FTX.
US Crypto Tax Law Study
Indiana and Maine universities publish a study examining US cryptocurrency tax law. The paper proposes a new tax framework for cryptocurrency losses, which would prevent taxpayers from using them against other capital gains.
Kraken Fights IRS Over Customer Information
Kraken is contesting the United States Internal Revenue Service's demand for critical exchange user information, citing it as an "unjustified treasure hunt." Kraken has requested federal court intervention, pointing out that the IRS has gone "far beyond" its intrusive summons. The fight against IRS is Kraken's response to the agency's February summons, which demanded additional user information to identify Kraken accounts that did at least $20,000 of cryptocurrency trading in any single year between 2016 and 2020.
IRS is Developing 'Hundreds' of Crypto Cases Amid Upcoming Tax Season
The United States IRS is building crypto cases and is looking toward hiring new hands to help handle its operations
US IRS Introduces Broad Category for Digital Assets Ahead of Tax Season
The US IRS has created the Digital Assets categories ahead of this year's tax season
U.S Court Issues John Doe Summons to Taxpayers that Failed to Remit Crypto Taxes
The United States District Judge, Paul G. Gardephe has granted permission to the Internal Revenue Service (IRS) to issue what is called a John Doe summons on M.Y. Safra Bank to release information about customers who may have failed to remit taxes received from conducting crypto transactions
Coin Center Sues IRS For Unconstitutional Tax Reporting Rules
Coin Center, a Washington DC-based non-profit research and advocacy centre, has filed a lawsuit against the United States Treasury and the Internal Revenue Service (IRS) for a tax reporting requirement it wants to pass into law.
US IRS to Refund Taxes on Staked Tezos to Tennessee Couple
The United States Internal Revenue Service (IRS) is set to refund a Nashville, Tennessee couple, Joshua and Jessica Jarrett the sum of $3,293 being tax payment on 8,876 Tezos (XTZ) coins earned as staking reward by the duo.
US IRS May Seize Cryptocurrency Worth Billions of Dollars In 2022, Top Agency Official Says
The Internal Revenue Service (IRS) predicts that it would seize more billions of dollars worth of cryptocurrency next year, given the agency is set to get more funding for the government.
US IRS May Auction off the $1.2B Worth of Crypto Seized This Year
The current crypto seizure amount of $1.2 billion made by the IRS may be up for auction to the public.
U.S. IRS Chief Requests More Power To Collect Crypto Transfer Data
U.S. Internal Revenue Service Commissioner Charles Retting told Congress that the authority needs more permission to collect cryptocurrency transfer data, Reuters reported Tuesday.
U.S. Treasury Requests Report to IRS for Crypto Transfers Over $10,000
The U.S. Treasury Department today proposed to the U.S. Internal Revenue Service that investors need to report on crypto transactions of more than $10,000.
California Court Orders Kraken Exchange to Reveal Identities of Users who Have Transacted in Crypto
IRS has secured authorization from a federal court to issue a John Doe warrant to Kraken to reveal the identity of users transacting in crypto.
Norwegian Tax Authorities Want Investors to Voluntarily Declare their Crypto Earnings
The Norwegian Tax Administration wants people to voluntarily report their cryptocurrency earnings ahead of the April deadline for filing tax returns.
US Treasury Official says IRS is Assessing Models for Crypto Tax Reporting Rules
The IRS is developing domestic reporting rules for cryptocurrency taxation and assessing different models, according to a Treasury Department official at an OECD event.