#irs

A Texas man was sentenced to two years in prison for filing inaccurate tax returns between 2017 and 2019. He reportedly omitted $3.7 million in income from Bitcoin transactions.

The US Internal Revenue Service (IRS) has brought on board two former cryptocurrency company employees as consultants to aid in crafting the definitive tax regulations for digital assets. This move will impact all crypto businesses, including exchanges and brokers, requiring them to report all transactions per client.

Pursuant to a court order received in June, Kraken, the cryptocurrency exchange, will be disclosing user data to the U.S. Internal Revenue Service (IRS) in the upcoming month.

Arkham Intelligence has developed an app that uses a Twitter handle to search for anyone's activity across various blockchains, including Ethereum, Polygon, and BNB Chain. The app can: find wallet addresses that the user has interacted with; filter the user's recent transactions; visualize their actions on the blockchain. Anyone who wants to join this impressive initiative can sign up for the waitlist. The first entities on the waitlist are probably the IRS and the FRS.

The defunct cryptocurrency exchange FTX has reached a settlement with the U.S. Internal Revenue Service (IRS), agreeing to pay a $200 million higher priority claim and a $685 million lower priority claim. This agreement stands in stark contrast to the initial claims totaling $24 billion. The payment is scheduled within 60 days after the restructuring plan goes into effect.

The U.S. Internal Revenue Service's Criminal Investigation division has released its Top-10 list of the most prominent and high-profile cases of 2023, with nearly half involving cryptocurrencies.

Coinbase has voiced major reservations about the tax guidelines put forth by the US Internal Revenue Service (IRS).