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Trump Signs Order Seeking Federal Control of Mail Voting as He Promotes False Claims nytimes.comTrump signs an executive order to create federal voter lists NBC NewsWATCH: Trump signs executive order to create national list of eligible voters PBSTrump signs executive order to crack down on mail-in voting CNN
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Futures Rise; Trump Sees Iran Exit In 2-3 Weeks Investor's Business DailyWhat in the world just happened to the Dow? CNNDow surges 1,100 points, S&P 500 posts best day since May as hopes grow for end of Iran war: Live updates CNBCS&P Surges Nearly 3% Amid Hope for War's End The New York Times
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Stock Market Today: Dow Gains 1,100 Points Amid Huge Recovery; Micron, Nvidia Score Big Wins (Live Coverage) Investor's Business DailyStocks Recover Sharply Amid Hope for Iran War's End The New York TimesJim Cramer: Three ways the stock market will flip if the U.S.-Iran war ends CNBCThe Dow surges more than 1,100 points as Wall Street soars to its best day since last spring AP News
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Trump signs executive order limiting mail-in ballots; California leaders say they'll fight Los Angeles TimesTrump signs executive order to crack down on mail-in voting CNNWashington Secretary of State Steve Hobbs blasts Trump executive order on voter lists KATUDemocrats and voting rights advocates vow to fight Trump's latest order: ‘massive and unconstitutional suppression effort' - as it happened The Guardian
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The 2022 crypto price crash understandably has some investors concerned. But for those of you who haven't run for the hills, it's worth knowing that cryptocurrency currently has the attention of not only the Biden administration, and Congress, but the IRS as well. In terms of crypto news and taxes, the IRS recently proposed changes to cryptocurrency tax reporting question on the Form 1040. The agency will also receive $80 billion from the Inflation Reduction Act, some of which will be directed to digital asset enforcement—including cryptocurrency tax compliance.
Additionally, you may have heard that the IRS continues to successfully obtain court orders to require cryptocurrency brokers and exchanges to provide information to the IRS. That information concerns investors who failed to report and pay taxes on cryptocurrency transactions.
And while this IRS enforcement focus isn't new, recent crypto announcements and developments from Congress, the Biden administration, and the IRS, mean that it's important to stay up-to-date on crypto tax reporting and compliance. So, here's some information to get you started.
How Crypto is Taxed
A common question about cryptocurrency concerns how crypto is taxed. The answer is that cryptocurrency is considered property, so it's taxed by the IRS in the same way that other capital assets are taxed. As a result, when you sell or trade crypto, you can have asset losses and potential taxable gains depending on the fair market value of the virtual currency, and your basis in the crypto.
SEE MORE 9 Ways to Cut Crypto Taxes Down to the Bone
Given that, it
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