Taxes Archives - Today News

Indian Government Reveals Crypto Tax Measures to Strengthen Compliance Oversight

Leave a Comment / Cryptocurrency, India, Tax, Taxes / best time

India is unleashing cutting-edge data analytics and forensic tech to crack down on crypto tax evasion, driving aggressive enforcement and surging digital asset revenue collection. Government Uses Data Analytics to Track Tax Evasion on Digital Assets The government of India provided an update early this week in the Lok Sabha, the lower house of India’s […]

Indian Government Reveals Crypto Tax Measures to Strengthen Compliance Oversight Read More »

IRS Mapping Wallet Activity Across Chains—Expert Says It’s Time to Prepare

Leave a Comment / Cryptocurrency, Tax, Taxes / best time

A tax expert has warned traders, particularly those operating discreetly, about the upcoming requirement to file Form 1099-DA starting in 2026. The expert also highlights the importance of reporting, even if one disagrees with the 1099-DA, to avoid being flagged for underreporting. IRS to Track Crypto Across Wallets and Chains A cryptocurrency capital gains expert

IRS Mapping Wallet Activity Across Chains—Expert Says It’s Time to Prepare Read More »

Indian Crypto Users Slammed With 18% GST as Bybit Complies With Tax Regulation

Leave a Comment / Bearish, India, Tax, Taxes / best time

Bybit is hitting Indian crypto traders with an 18% GST and widespread service shutdowns as strict new regulations reshape the nation’s rapidly evolving digital asset landscape. Bybit Hits India With 18% GST as Multiple Crypto Services Begin Final Shutdown Cryptocurrency exchange Bybit is introducing higher transaction costs for Indian users, as it prepares to implement

Indian Crypto Users Slammed With 18% GST as Bybit Complies With Tax Regulation Read More »

Senator Lummis presents bill to insert crypto tax definitions to shield micro-payments, validation rewards

Leave a Comment / crypto, Featured, Legislation, Regulation, Taxes / best time

Senator Cynthia Lummis filed a bill on July 3 that rewrites multiple sections of the Internal Revenue Code to govern how crypto users calculate, defer, and report taxable income. The measure inserts statutory definitions for “digital asset” and “actively traded digital asset,” classifying any cryptographically recorded unit of value as property unless it merely mirrors

Senator Lummis presents bill to insert crypto tax definitions to shield micro-payments, validation rewards Read More »

Senator Lummis announces OBBB crypto tax amendment while crypto advocates mobilize for approval

Leave a Comment / crypto, Featured, Legislation, Regulation, Taxes / best time

Senator Cynthia Lummis revealed on June 30 that she would introduce an amendment to add crypto tax language to the “One Big Beautiful Bill” (OBBB) amid pushes from crypto advocates in the same direction. Lummis posted on X that she is drafting an OBBB amendment “to ensure Americans can use digital assets without fear of

Senator Lummis announces OBBB crypto tax amendment while crypto advocates mobilize for approval Read More »

Crypto Tax Crackdown Looms as IRS Warning Letters Surge

Leave a Comment / Bearish, IRS, Tax, Taxes / best time

The Internal Revenue Service (IRS) has significantly increased the number of warning letters sent to crypto investors, causing anxiety among users. This uptick is seen as a precursor to a broader enforcement initiative, especially with new 1099-DA regulations set to take effect next year. Looming Enforcement Wave Warning letters sent to crypto investors by the

Crypto Tax Crackdown Looms as IRS Warning Letters Surge Read More »

Thailand crypto tax reform exempts digital asset profits for five years

Leave a Comment / Adoption, Featured, Politics, Regulation, Taxes, Thailand / best time

Thailand has announced a significant tax reform to position itself as a leading crypto-friendly nation. On June 17, the country’s Cabinet approved a five-year personal tax exemption on profits from selling digital assets, including Bitcoin. The measure takes effect from January 2025 and will run until December 2029. Deputy Finance Minister Julapun Amornvivat explained on

Thailand crypto tax reform exempts digital asset profits for five years Read More »

Brazilian Authorities Terminate Exemptions, Aims to Tax Crypto Held in Self Custody

Leave a Comment / Brazil, Cryptocurrency, Tax, Taxes / best time

Brazilian authorities issued a Provisional Measure that terminates the previous tax regime and introduces a new ruleset to tax all crypto-derived profits. The new rule also states that these measures apply to crypto held in self-custody wallets and digital assets held abroad. Brazilian Government Announces New Crypto Tax Regime, Throws Self-Hosted Assets in the Mix

Brazilian Authorities Terminate Exemptions, Aims to Tax Crypto Held in Self Custody Read More »

Tax on Unrealized Crypto Gains Could Trigger Forced Sell-offs, Senators Warn Treasury

Leave a Comment / Cryptocurrency, Tax, Taxes / best time

Senators push Treasury to shield U.S. crypto firms from devastating tax on unrealized gains, warning of risk to digital asset leadership. Treasury Pressured to Act Fast as Unrealized Crypto Gains Face Tax Storm U.S. Senator Cynthia Lummis (R-WY) and Senator Bernie Moreno (R-OH) are calling on the U.S. Department of the Treasury to act swiftly

Tax on Unrealized Crypto Gains Could Trigger Forced Sell-offs, Senators Warn Treasury Read More »

Coinbase urges Supreme Court to block IRS crypto data grab to preserve constitutional privacy

Leave a Comment / crypto, Exchanges, Featured, Legal, Taxes / best time

Coinbase has filed an amicus brief with the US Supreme Court supporting a constitutional challenge to the Internal Revenue Service’s (IRS) broad collection of cryptocurrency user data, arguing it violates Fourth Amendment protections. The filing, submitted on April 30, outlines the company’s opposition to an IRS John Doe summons that compelled the disclosure of detailed

Coinbase urges Supreme Court to block IRS crypto data grab to preserve constitutional privacy Read More »