The IRS knows about the cryptocoins and wants you to pay taxes on them. The Wall Street Journal reports that the warning letters are going out.
An IRS spokesman declined to say whether the letters stem from information turned over by digital-currency platform Coinbase. In mid-March of 2018, Coinbase provided data—under a federal court order—on about 13,000 accounts requested by the IRS. ... The Coinbase customers whose information was turned over bought, sold, sent or received digital currency worth $20,000 or more between 2013 and 2015. For federal tax purposes, cryptocurrencies such as as bitcoin are treated as investment property akin to stock shares or real estate.
You may not be interested in paying taxes, but the government is interested in the companies that helped you not pay taxes and it turns out those companies are happy to help the government help you pay your taxes. QED!
Stock investors who are reeling after today’s disaster on Wall Street can take comfort in the fact that people hodling Bitcoin fared even worse. The price of a bitcoin dropped from $7900 to $4900 in less than a day. From Coindesk Nearly $63 billion has been wiped from the markets as the total market capitalization […]
“CoronaCoin” exists. Some cryptocurrency developers on 4Chan cooked up a digital coin that allows traders to bet on the global coronavirus outbreak, based on how many people become infected and/or die.
‘Used accounts and passwords of other employees to embezzle digital currency’ — DoJ
The world is holding its collective breath. As states begin cautiously reopening, no one is sure exactly what to expect. But one thing is clear: most Americans are worried about their bank accounts. By the end of March, the average American household was spending 40 percent less on their credit cards than they were one […]
Over 25 years, eBay has carved out its space as the commerce hub of choice online. With 182 million users worldwide, that works out to about 35 percent of all US mobile users who shop those eBay storefronts. But did you know there are usually around 1.3 billion — with a B — active for-sale […]
Software apps are a dime a dozen. Well, if you’re going by their actual monetary cost, maybe not really. But considering how useless some poorly conceived, poorly executed apps are at doing the job you actually downloaded them to accomplish, it isn’t a stretch to think that many apps aren’t even worth a free download. […]