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Following a $69.1 million tax bill imposed by South Korea’s National Tax Service (NTS) in late 2019, cryptocurrency exchange giant Bithumb has filed a complaint with the Tax Tribunal to negate the tax bill. The NTS and Bithumb must wait 90 days for a decision from the tribunal. Bithumb Wants Their ..
For the Internal Revenue Service (IRS) bitcoin tax payment has become a matter of priority, as the tax agency recently distributed over 10,000 letters to different bitcoin investors. The IRS has tried to curb the issue of tax evasion from virtual currency holders, albeit without a clear crypto tax g..
U.S. tax authority, the Internal Revenue Service (IRS) has already begun sending letters to thousands of bitcoin and crypto holders who have failed to report cryptocurrency transactions. The IRS letters include instructions to pay taxes, interest, and penalties. IRS: Review Tax Filings to “amend pa..