The taxman matches Bitcoin transactions and bank transfers to identify people All of the transaction data for Bitcoin and other cryptocurrencies are stored in a public ledger known as Blockchains. The tax office has been admitted generous access to bank transfers and other data, which enables identifying people. By matching the transfers it is evident that in the past most citizens have not reported profits made… Read More
IRS Says Fewer Than 100 People Have Reported Bitcoin Holdings So Far Credit Karma Tax, the tax prep branch of the popular credit score site, said April 13 that fewer than100 of the 250,000 most recent tax filers through the servicehave reported cryptocurrency transactions. One of the biggest questions this tax season has been the impact that last year’s cryptocurrency boom would have on filers across the… Read More
German Income Tax on Virtual Currencies Last week, the Frankfurt School of Finance & Management hosted CryptoTax for a seminar on the German taxation regime. The webinar recording is available on YouTube (in German only), and the key points have been summarized here for the benefit of a global audience. Source: medium… Read More