|
Netflix's blockbuster deal to buy Warner Bros., including HBO, is the latest twist in a rivalry that has reshaped the entertainment industry.
|
|
The era of the pickle is upon us Business InsiderThe Grinch is coming to McDonald's. See the holiday meal. USA TodayI Tried McDonald's Grinch Meal and the Fries Nearly Took Me Out Good HousekeepingMcDonald's Grinch Meals—How Does the US vs UK Compare? We Found Out NewsweekMcDonald's Grinch meal is causing a frenzy! WMDT
|
|
Alix Earle Hits NYLON House Party After Braxton Berrios Breakup TMZAlix Earle and Braxton Berrios Split After 2 Years Together (Excl) Us WeeklyInside Alix Earle's Night Out in Miami Amid Braxton Berrios Breakup YahooTexans' Braxton Berrios, influencer Alix Earle break up after two years New York PostAlix Earle and Braxton Berrios Break Up After 2 Years of Dating
|
|
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
|
|
