Category: IRS

Biden Budget Proposal Targets Crypto Investors Using Like-Kind Exchange Provision; Plan Aims to Tax Crypto Miners 30%

On Thursday, the Biden administration released the U.S. president’s 182-page budget proposal for the fiscal year 2024, which aims to “grow the economy from the bottom up and middle out.”…

Biden Vows to Veto House Republicans’ ‘Fair Tax Act’ Proposing Elimination of IRS

Several U.S. House of Representatives Republicans have proposed legislation that would significantly decrease funding for the Internal Revenue Service (IRS). The move comes after the newly elected Speaker, Kevin McCarthy,…

US Government Delays Tax Reporting Rules for Cryptocurrency Brokers

The enforcement of a requirement for brokers to report gains made by crypto investors has been postponed by the U.S. Treasury Department and the IRS. The new tax rules, incorporated…