The tax collector is making it a lot harder to pretend you don’t have bitcoin or other virtual currencies hidden away somewhere
Cryptocurrency holders, beware: A surprising change to your 2020 tax form is about to strip away excuses for ignoring the tax rules on bitcoin, ether or other digital currencies.
The Internal Revenue Service plans to alter the standard 1040 form by putting this question on the front page: At any time during 2020, did you sell, receive, send, exchange or otherwise acquire any financial interest in any virtual currency? The taxpayer must check the box “Yes” or “No.”
https://www.wsj.com/articles/the-irs-sets-a-trap-for-cryptocurrency-tax-cheats-11601026202
Cryptocurrency holders, beware: A surprising change to your 2020 tax form is about to strip away excuses for ignoring the tax rules on bitcoin, ether or other digital currencies.
The Internal Revenue Service plans to alter the standard 1040 form by putting this question on the front page: At any time during 2020, did you sell, receive, send, exchange or otherwise acquire any financial interest in any virtual currency? The taxpayer must check the box “Yes” or “No.”
https://www.wsj.com/articles/the-irs-sets-a-trap-for-cryptocurrency-tax-cheats-11601026202