Despite the buzz around smart contracts and the future of commerce, for those currently providing services in the blockchain and cryptocurrency industries, the written contract is still king protocol.
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As the New Year rings in, tax season is here once again. For everyone in the crypto world with U.S. tax obligations it means that it’s time again to wrap your head around how to deal with the tax man. In the U.S., everything we know specifically about cryptocurrency and taxes stems from IRS Notice 2014-21. Accordingly, the following is a review of what IRS Notice 2014-21 says with some basic takeaways for getting you on track to accounting for your crypto taxes.
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Coinbase’s "early" release for support of the August 2017 hard-fork which resulted in the creation of Bitcoin Cash ("BCH") may result in another surprise for those wallets recently credited with BCH: Additional Tax Liability in 2017.
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