Tagged: taxes

March 31, 2021 @ 3:13 pm By JD Alois  |  

The Small Business & Entrepreneurship Council (SBE Council) has distributed a note criticizing President Joe Biden’s planned tax increase that will hit both individuals and businesses. Addressing  the policy of pushing business taxes higher, the SBE Council says raising taxes during the shaky economy and… Read More

March 23, 2021 @ 3:18 pm By JD Alois  |  

CoinSquare, a Canadian crypto exchange,  has announced that it has come to terms with the Canada Revenue Agency (CRA) in regards to the information provided regarding CoinSquare users. CoinSquare notes that in late 2020, the CRA filed an application in court to compel Coinsquare to… Read More

March 8, 2021 @ 2:57 pm By JD Alois  |  

The Internal Revenue Services (IRS) is in midst of tax season, typically a time of anxiety for most taxpayers as they scramble to package the litany of documents demanded by the IRS to complete federal taxes. Over the years, the IRS has issued multiple statements… Read More

March 2, 2021 @ 3:03 pm By JD Alois  |  

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

February 17, 2021 @ 1:53 pm By Omar Faridi  |  

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

February 2, 2021 @ 4:00 pm By Lee A. Schneider  |  

  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

January 18, 2021 @ 10:03 pm By Omar Faridi  |  

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

January 16, 2021 @ 10:39 pm By Omar Faridi  |  

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

January 7, 2021 @ 7:54 am By Samantha Hurst  |  

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

December 28, 2020 @ 8:30 am By Samantha Hurst  |  

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

November 1, 2020 @ 10:17 pm By Samantha Hurst  |  

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

October 6, 2020 @ 8:32 am By Omar Faridi  |  

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

August 13, 2020 @ 11:00 am By Omar Faridi  |  

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

April 20, 2020 @ 7:58 am By Omar Faridi  |  

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

April 3, 2020 @ 7:21 am By Omar Faridi  |  

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

March 15, 2020 @ 10:29 pm By Samantha Hurst  |  

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

February 26, 2020 @ 11:07 pm By Omar Faridi  |  

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

February 5, 2020 @ 10:36 pm By JD Alois  |  

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

January 28, 2020 @ 3:01 pm By Samantha Hurst  |  

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

January 16, 2020 @ 1:57 pm By Cali Haan  |  

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