BitRss.com latest World Crypto News

Search and discover the latest Cryptocurrency updated Stories in Categories.

24-7 World Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources.

New IRS Form Confirms the Agency Remains Curious About Cryptocurrencies

New IRS Form Confirms the Agency Remains Curious About Cryptocurrencies

American cryptocurrency holders are all too aware of what the IRS aims to achieve. In a new form sent to recipients, the agency is trying to dig deeper into people’s crypto past.
It is pertinent for US cryptocurrency users to report their holdings, earnings, and losses to the IRS .
The IRS is at it Once Again
Those who decide not to be honest about their holdings will feel the consequences sooner or later.
What is somewhat disturbing, however, is how the IRS keeps prying crypto enthusiasts for more information.
A new form surfacing on the agency’s website shows how taxpayers will need to explain how they acquire, exchange, and sold these currencies exactly.
While the questions may seem innocent enough, the answers users provide may create certain precedents for the future.
All of this further confirms the tax agency is not backing down on gathering crypto-related information from US citizens.
While that is not necessarily a bad thing, one has to wonder what the IRS hopes to gain from doing so.
There are some who fear responding honestly to these questions will put them on the agency’s radar, resulting in a personal audit.
That would certainly be a plausible outcome, depending on the answers the agency receives in the process.
For US citizens, there is little else to do but simply answer the question truthfully.
Users who have absolutely nothing to hide should never be afraid of speaking the truth, after all. 
Image(s): Shutterstock.com

The post New IRS Form Confirms the Agency Remains Curious About Cryptocurrencies appeared first on The Merkle Hash .

BitRss.com shares this Contents always with License.

Thank you for Share!

   
Tumblr
LinkedIn
Reddit
VK

WhatsApp
Telegram

Search about Crypto News


BITRSS | CRYPTOCURRENCY WORLD NEWS

The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed BitRss.com simple and intuitive, usable by all Devices, fast and effective.


| LEARN MORE ABOUT |

Today Most Popular News


Buy Bitcoin online in ANY country, supporting 80+ Payment methods!