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IRS Sending Warning Letters to Cryptocurrency Holders

Posted by Zinner & Co. Tax Team on Jul 29, 2019 10:02:42 AM

The IRS has begun sending letters to more than 10,000 cryptocurrency holders with a warning that they may have violated federal tax law. 

The letters state those who have profited from the trade or use of cryptocurrencies (such as Bitcoin) may be subject to a variety of taxes including capital gains.

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Topics: income tax, cryptocurrency, block chain

IRS Set to Issue New Guidance on Treatment of Cryptocurrencies

Posted by Zinner & Co. Tax Team on Jun 5, 2019 7:27:00 AM

IRS Commissioner Charles Rettig has announced the IRS will be issuing additional guidance on the taxation of cryptocurrencies, also referred to as virtual currencies.

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Topics: cryptocurrency, block chain, Bitcoin

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