Cryptocurrency is a digital or virtual currency that uses cryptography to secure its transactions and to control the creation of new units. Cryptocurrencies are decentralized, meaning they are not subject to government or financial institution control. Tax season is quickly approaching, and many people are wondering how they should report their cryptocurrency holdings on their […]
How To File For Crypto Taxes
The Internal Revenue Service (IRS) released guidance on how to report and pay taxes on cryptocurrency investments in March 2014. The guidance, Notice 2014-21, provides answers to a number of frequently asked questions (FAQs) from taxpayers, including: How is cryptocurrency treated for federal tax purposes? What are the tax consequences of receiving cryptocurrency as payment […]
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