Tagged: irs

Joint Chiefs of Global Tax Enforcement (J5) to Fight Against International Tax Crime and Money Laundering Including Cryptocurrency

The Joint Chiefs of Global Tax Enforcement, or the “J5”, is a group of nations dedicated to fighting against tax crime and money laundering. Participants in the J5 include the Australian Criminal Intelligence Commission (ACIC) and Australian Taxation Office (ATO), the Canada Revenue Agency (CRA),… Read More

Accused Silk Road Second in Command Extradited to US

Yet another computer-savant smart enough to have allegedly managed a vast Dark Web marketplace yet not quite smart enough to avoid countries with extradition treaties with the US is on his way there to face charges of conspiracy to traffic drugs and launder money. According… Read More

Chief of the IRS Criminal Division is on the Hunt for Cryptocurrency Scofflaws

In March of 2014, the Internal Revenue Service issued  an FAQ on digital currencies and the tax treatment of transactions in crypto like Bitcoin. In brief, the IRS said that virtual currency should be treated as property for U.S. federal tax purposes. “General tax principles that… Read More

NODE40 Provides Tax Compliance to Cryptocurrency, Now Supports Coinbase Users

Bitcoin Tax Software NODE40 has announced it can now support Coinbase users in time for the April tax deadline (US). NODE40 is targeting Coinbase’s 13+ million users and the fact they must report capital gains and losses for their crypto trades during 2017. During 2017,… Read More

Coinbase Must Hand Over Account Info to IRS for Users that Transacted $20,000 or More in Crypto

Coinbase has received a judgement by the US District Court of Northern California ordering it to hand over all account information to the IRS for any transaction with the equivalent of $20,000 or more during the years 2013 to 2015. In the case United States… Read More

The US Government is Worried that Usage of Digital Currencies will Lead to Tax Avoidance

The Treasury Inspector General for Tax Administration (TIGTA) published a document this fall that reviewed the growing usage of Bitcoin and other digital currencies in the private sector. While acknowledging there are benefits to “virtual currencies” including lower transaction fees and faster transfer of funds… Read More

I Have a Tax Lien—Does That Mean I Can’t Get a Loan?

This time of year, taxes are top of mind for consumers and business owners alike, but few people like to think about tax liens.  Tax liens are serious business and can have a significant impact on your credit and ability to secure financing.  Since eCommerce… Read More

Female Rapper Kreayshawn Says No Thanks to Crowdfunding; Urges Fan to Remove GoFundMe Initiative

Showing some love for Oakland rapper, Kreayshawn, a devoted fan launched a GoFundMe initiative after she announced that she has been left with no money just days before Christmas. Kreayshawn, who is known for her hit song Gucci Gucci, took to her Twitter account to rant… Read More

Do Kickstarter Bands Have To Pay Taxes? Accountants Aren’t So Sure

Boy band Allstar Weekend are Poway’s answer to One Direction. The San Diego county-bred group got its start on the Disney Channel music competition Next Big Thing back in 2009. They took second place on that show, but the exposure helped the band ink a four-album deal… Read More