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Key Takeaways The White House is currently reviewing an IRS proposal aimed at taxing cryptocurrencies held by Americans abroad. The move seeks to close potential tax loopholes related to foreign-held digital assets. Share this article The Trump administration is advancing a plan to let the IRS access Americans’ offshore crypto holdings for tax enforcement, according … Read more
The Internal Revenue Service has published new guidance that clears the way for crypto exchange-traded products to participate in staking without risking their tax classification. This update, labeled Revenue Procedure 2025-31, gives certain trusts the green light to engage in staking while maintaining their federal income tax status. It is a step that could change … Read more
Key Takeaways The US Treasury and IRS have issued new rules providing significant tax relief to large companies and wealthy investors. These measures are reducing the projected revenue from the corporate alternative minimum tax enacted in 2022. Share this article The Trump administration is quietly rolling out hundreds of billions in new tax breaks benefiting … Read more
Key Takeaways The IRS and US Treasury issued new guidance excluding Strategy’s unrealized gains on Bitcoin from the corporate alternative minimum tax (CAMT). Strategy and similar companies will not face CAMT liability on digital asset holdings, easing tax concerns. Share this article Strategy, a publicly traded software company positioned as a leading Bitcoin treasury holder, … Read more
NEWYou can now listen to Fox News articles! Welcome to the Fox News Politics newsletter, with the latest updates on the Trump administration, Capitol Hill and more Fox News politics content. Here’s what’s happening… -Inside Epstein’s infamous “birthday book”: Clinton’s note, poolside candids, children’s drawings and bizarre animal pics -Conservative groups reject Trump’s reported patent … Read more
The IRS says pastors who endorse political candidates from the pulpit should not have to risk losing their tax-exempt status. The move effectively calls for a carve out for religious organizations from the rarely used IRS rule called the Johnson Amendment, put in place in 1954 and named after then-Sen. Lyndon Johnson. In a joint court filing … Read more
The U.S. Supreme Court has declined to hear an appeal from a Coinbase user, allowing the IRS to access data from the exchange’s users. The Supreme Court sided with the Internal Revenue Service in a major financial privacy case. On Monday, June 30, the Court declined to hear an appeal from James Harper, a Coinbase … Read more
Crypto investors are poised for record returns on Bitcoin and other digital assets—and so, too, is the taxman. The Internal Revenue Service has sent U.S. crypto investors a flood of warning letters about their digital asset investments over the past two months. The volume of letters—which warn taxpayers that crypto investments they declared on their … Read more
U.S. crypto investors are receiving IRS warning letters at a dramatically higher rate, with CoinLedger reporting a 758% increase over the past 60 days. The spike has also been confirmed by accounting firms like Taxing Cryptocurrency, CoinLedger CEO David Kemmerer told The Block. Many recipients are everyday investors who are “shocked” to receive notices, despite … Read more
The budget bill championed by President Donald Trump could complicate next year’s tax filing season after the IRS lost one-quarter of its employees through staffing cuts, an independent watchdog reported Wednesday. The IRS workforce has fallen from 102,113 workers to 75,702 over the past year, according to the latest National Taxpayer Advocate report to Congress. The report Wednesday offered the first … Read more
https://www.profitablecpmrate.com/nsirjwzb79?key=c706907e420c1171a8852e02ab2e6ea4