TaxBit has announced a significant $100 million Series A funding round led by Paradigm and Tiger Global with participation from a long list of big names. Investors in TaxBit include PayPal Ventures, Winkelvoss Capital, Coinbase Ventures, Bill Ackman, Qualtrics co-founder and chairman Ryan Smith, Anthony… Read More
San Francisco-based crypto exchange Coinbase says it’s focused on helping its customers during tax season (in the United States) Lawrence Zlatkin, Vice President, Tax, Coinbase, notes that for the second consecutive year, taxpayers will be asked on their tax return forms questions regarding digital currencies…. Read More
Let me start with a confession: I am not smart enough to be a tax lawyer, certainly not a US tax lawyer. The intricacies of the US tax code defy my brain’s attempts to systematize a coherent taxonomy. The tax code is too complex… Read More
UK challenger bank Monzo has announced several updates. The digital bank confirmed recently that the Year in Monzo 2020 is now available via its app. As explained by the banking challenger, the Year in Monzo shows customers key insights into how they spent, saved, and… Read More
The Fintech Alliance in the Philippines, which aims to support the nation’s economic and social development goals, has teamed up with 43 other private business organizations in the country in order to express their support for the Corporate Recovery and Tax Incentives for Enterprises (CREATE)… Read More
TaxBit, a U.S.-based cryptocurrency tax automation software provider, announced on Thursday it scored investments from PayPal Ventures and Coinbase Ventures. The latest investments come just a little over a year after TaxBit raised $5 million through its seed funding round. As previously reported, Taxbit claims… Read More
SurePrep and Bittax recently announced they have a strategic partnership to streamline cryptocurrency tax compliance for tax professionals. According to the duo, this new collaboration ensures tax professionals have the necessary technology to address the needs of taxpayers who will be under increasing IRS scrutiny this… Read More
Gemini Trust Company, LLC (Gemini), a cryptocurrency exchange and custodian, recently announced it has joined forces with cryptocurrency tax software platform TaxBit to provide its users with completed cryptocurrency tax reports and tools to better monitor and optimize tax reporting. According to Gemini, TaxBit’s Tax… Read More
Sam O’Connor, the CEO at Coconut, a company that provides a tool for self-employed individuals that helps them manage their business finances, has confirmed that their platform now connects with Tide, Transferwise, Tesco Bank and Virgin Money. O’Connor noted that they’ve added four more banking… Read More
Many individuals and businesses across the globe have been forced to make major lifestyle changes, including working from home, due to the contagious COVID-19 outbreak. San Francisco-based Fintech firm Deel, which plans to improve the work from home process by offering an easy-to-use online platform,… Read More
Singapore’s tax authority, the Inland Revenue Authority of Singapore (IRAS), confirmed that it will not be collecting taxes on airdropped cryptocurrency, provided that the recipients get them for free. As noted in an income tax treatment guide, released on April 17, 2020, the IRAS clarified… Read More
Spain’s tax authorities have begun sending warning letters to around 66,000 digital asset investors. The Spanish tax agency aims to remind cryptocurrency holders of their tax obligations. The Agencia Estatal de Administración Tributaria (AEAT) reportedly began its crypto-related tax collection campaign on April 1, 2020…. Read More
Simple, a U.S. fintech and subsidiary of BBVA USA, has launched a tax refund feature that helps customers build savings by designating a portion or all of their anticipated tax refunds to their Simple saving accounts. Simple reported that the feature is one of a… Read More
South Korea’s tax authorities have advised the nation’s government to impose a low-level trading tax on capital gains made from digital currency trading before requiring Korean residents to pay a transfer income tax. South Korea’s government will be introducing its new tax reform plan later… Read More
The Wall Street Blockchain Alliance (WSBA) has posted a letter addressed to the US Internal Revenue Service (IRS) asking the agency to clarify its stance on crypto and taxation. In the past, the IRS has issued several statements and warnings to holders of cryptocurrency with… Read More
Refundo, a provider of tax-related financial products and services, announced on Tuesday it is once again making federal and state tax refunds available in cryptocurrency. The company revealed it is introducing support for Bitcoin Cash (BCH), Ethereum (ETC), and Ripple (XRP) as additional cryptocurrency options… Read More
Legislators in New Hampshire have voted 17-1 against a bill that would have required the state treasurer, “to develop an implementation plan for the state to accept cryptocurrencies as payment for taxes and fees and allows state agencies to accept payment in cryptocurrencies after July 1,… Read More
The National Tax Service (NTS) of South Korea confirmed that it will be withholding taxes worth an estimated 80.3 billion Korean won (appr. $70 million) from Bithumb, the nation’s largest digital asset trading platform. Bithumb Holdings’ largest shareholder, Vidente, which operates Bithumb’s Korea division, confirmed… Read More
After being granted the right earlier this year to demand user records from 3 cryptocurrency exchanges in the country, Denmark’s tax authority, the Skattestyrelsen, has now sent 20 000 letters to Danish citizens it believes may have skirted taxes on capital gains from cryptocurrency trades. Recipients… Read More
A judge in the state of Washington has denied a cryptocurrency trader’s petition to prevent the Internal Revenue Service (IRS) from accessing records of his 2016 trades at the Bitstamp cryptocurrency exchange. Judge John Coughenour has, however, determined that the IRS’s original summons goes “overboard”… Read More
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