asks up front: "did you receive, sell, exchange, or otherwise dispose of any financial interest in any virtual currency?" The question is meant to remind taxpayers about their crypto transactions while making it harder for people to ignore their tax obligations.The tax filing season may also be tricky for crypto investors because of an overwhelmed IRS.
Policymakers have a few options to help taxpayers who are new to trading digital assets and dealing with complicated tax situations. Among them, because the compliance costs associated with paying taxes on small gains outweigh what little revenue would be raised. Taxpayers can help themselves by following general best practices when it comes to filling taxes: start the process early in the tax season, ensure proper documentation of transactions, and know when to get extra help by contacting a professional tax service. Taxpayers have until April 18th in most states to file their returns, and it’s better to get it right the first time than to get it wrong and be in a prolonged back-and-forth with the IRS.
By following best practices, taxpayers with crypto-related income are much more likely to have a smoother tax filing process amid Watson and Muresianu are federal policy analysts at the Tax Foundation, a nonpartisan think tank in Washington, D.C.
Source: Digital Coin News (digitalcoinnews.net)
Clinton campaign paid to 'infiltrate' Trump Tower, White House servers to link Trump to Russia: Durham Explore the Fox News apps that are right for you at
Many more coming for cryptocurrency or btc; many times fed rate hikes this year to combat inflation, censoring by SEC, prevention of money laundering & terror funding.
Government is crazy enough like beggar, investing not always go up, they want take advantage to it, Government just go invest at crypto, this is madness
No they don’t. 🤡s
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