The Biden administration's tax enforcement proposal unveiled on Thursday includes a proposed requirement that cryptocurrency transfers over US$10,000 be reported to the Internal Revenue Service.
FILE PHOTO: A collection of virtual currency bitcoin tokens are displayed in this picture illustration taken Dec. 8, 2017. REUTERS/Benoit Tessier/Illustration/File PhotoREUTERS: The Biden administration's tax enforcement proposal unveiled on Thursday includes a proposed requirement that cryptocurrency transfers over US$10,000 be reported to the Internal Revenue Service.
"As with cash transactions, businesses that receive cryptoassets with a fair market value of more than US$10,000 would also be reported on," the Treasury Department said in a report released alongside its wider proposals aimed at improving tax collection.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: YahooSG - 🏆 3. / 71 Read more »
Source: TODAYonline - 🏆 1. / 99 Read more »
Source: TODAYonline - 🏆 1. / 99 Read more »
Source: TODAYonline - 🏆 1. / 99 Read more »
Source: TODAYonline - 🏆 1. / 99 Read more »
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »