Paypal has introduced Paypal Links, a new way to send and receive money via one-time personalized links, and confirmed that crypto functionality including Bitcoin, Ethereum, and PYUSD will soon be integrated into its P2P payment flow, enabling seamless transfers across Paypal, Venmo, and global digital wallets.
A tax expert says IRS crypto audits are increasingly focused on complete asset tracing, foreign account disclosures, and anti-money laundering concerns rather than minor differences in gain calculations alone.
A crypto tax specialist says IRS audits increasingly focus on complete fund flows, account disclosure, and anti-money laundering concerns, with FBAR exposure posing added risk for users of foreign exchanges.
As tax season approaches, US tax preparers are urging crypto users to disclose their activity to the IRS, even if records are incomplete, amid heightened scrutiny and unclear guidance.
After the U.S. tax reform eliminated the 1031 tax-free exchange for cryptocurrencies, gifting Bitcoin emerges as a key loophole. Tax attorney explains $15,000 annual exclusion, $11.2 million lifetime exemption, and charitable deduction benefits.
After US tax reforms eliminated 1031 exchanges for crypto, gifting remains a legal loophole. Individuals can gift $15,000/year tax-free, with a lifetime exemption of $11.2 million. This article explains the strategy, charity benefits, and IRS compliance tips.
Coinbase issued IRS 1099-K forms on January 31, 2018, to US clients exceeding 200 transactions or $20,000 in receipts. The move follows a 2017 court order requiring Coinbase to disclose 14,355 accounts. Many users report inflated figures and lack of prior notice.
