A bitcoin investor has pleaded guilty to underreporting his cryptocurrency gains, including $3.7 million from BTC sales, resulting in a tax loss to the Internal Revenue Service (IRS) of over $550,000. The Department of Justice emphasized that taxpayers must accurately report crypto transactions to the IRS. The bitcoin investor now faces up to three years…
Following the surging popularity of digital assets globally, various nations have already introduced laws concerning crypto assets. Some countries have already considered it a taxable investment under the nation’s financial regime.  According to recent information, Japan’s Financial Services Agency (FSA) is gearing up for reforms in the nation’s current tax code. Earlier, the agency urged…
August 29, 2024 at 11:02 PM GST 2 mins read News Kamala Harris recently endorsed a plan that would introduce an annual tax on any ‘locked-in’ gains above $100 million; this tax targets the top 1% of 2% of the U.S. population. Opponents have claimed that the taxation of unrealized gains is unconstitutional and could…
Vice President Kamala Harris has declared her support for President Joe Biden’s 44.6% capital gains tax proposal. The proposal would be the highest in history. It also includes a 25% tax on unrealized gains for high-net-worth individuals (more than $100 million in wealth). JUST IN: 🇺🇸 Kamala Harris backs President Biden’s 44.6% capital gains tax…