Tags: Crypto Taxes

Just as the IRS received a suggestion to bring forward its proposed tax reporting guideline, Coinbase’s Vice President of Tax has called on the agency to revise the proposed rules, citing concerns over user privacy and an uneven playing field with traditional finance. 

Members of the US Senate have called on the Treasury Department and IRS to implement crypto tax reporting guidelines before 2026. Lawmakers argue a delay in implementation could cause the IRS to lose billions in revenue. 

Israeli foreign residents may soon benefit from a tax exemption on the sale of digital currencies.

The Japanese tax administration has offered companies that issue cryptocurrencies a 30 tax break under a revision of its corporate tax rules.

Julie Foerster, Project Director at the IRS (Shutterstock/CoinDesk)

(Yunha Lee/CoinDesk)

(Dimitri Karastelev/Unsplash, modified by CoinDesk)

NFTs will be taxed like the underlying assets until final rules are agreed on how to treat digital proofs of ownership held in retirement accounts