The Internal Revenue Service announced today that it has begun mailing what it calls “educational letters” to taxpayers with cryptocurrency transactions who potentially failed to report income and pay the
Continue Reading IRS Ramping Up Cryptocurrency Enforcement Efforts With “Educational” Letters

Our colleague Ernest Badway writes about a recent decision in a federal criminal case rejecting the defendant’s argument that there was no securities fraud because he was selling digital tokens. 
Continue Reading No Easy Out: Federal Judge Says Selling Digital Tokens May Violate Federal Securities Laws

BitcoinEarlier this week the Internal Revenue Service announced creation of a virtual currency compliance initiative that will focus on tax compliance by taxpayers engaging in virtual currency transactions. The IRS
Continue Reading IRS Announces Audit Campaign Focusing on Virtual Currency Transactions, But No Voluntary Disclosure Program to Address Non-Compliance

BitcoinThe American Institute of Certified Public Accountants – the world’s largest association of accounting professionals – yesterday asked the Internal Revenue Service to issue immediate, updated guidance regarding the tax
Continue Reading AICPA Requests Immediate Guidance From IRS on Tax Treatment of Cryptocurrency Transactions

BitcoinWith the April 17 deadline for filing individual tax returns just around the corner, individuals who engaged in cryptocurrency transactions during 2017 must take care to properly report them on
Continue Reading With Tax Day Looming, Don’t Overlook Reporting of Cryptocurrency Transactions

BitcoinWith “tax day” fast approaching, the Internal Revenue Service on Friday reminded taxpayers that income from virtual currency transactions is reportable on their income tax returns. As we have previously
Continue Reading IRS Reminds Taxpayers to Report Virtual Currency Transactions