cryptocurrency taxes

Digital Assets Business Management System Concept

AICPA Requests Tax Treatment Guidance for Digital Asset Losses

The Internal Revenue Service (IRS) has been urged by the American Institute of CPAs (AICPA) to provide guidance regarding the tax implications of digital asset losses. In a statement, AICPA Director for Tax Policy & Advocacy, Eileen Sherr, said, “With the complexities and recent bankruptcies involved with digital asset exchanges, taxpayers and practitioners are facing …

AICPA Requests Tax Treatment Guidance for Digital Asset Losses Read More »

Make Sure You Report All Income on Your Returns

Did you drive Uber to make some extra money this year? Or dabble in cryptocurrency? The IRS is reminding taxpayers of reporting and potential tax obligations from working in the gig economy, making virtual currency transactions, earning foreign-source income, or holding certain foreign assets. Generally, income earned from the gig economy is taxable and must be …

Make Sure You Report All Income on Your Returns Read More »

Scroll to Top