As tax season is now upon us, the number one question is raised: how is cryptocurrency taxed?, it is worth reviewing some common tips and tricks concerning your cryptocurrency holdings and reporting obligations. (1) How is cryptocurrency taxed? Since the IRS sounded...
I recently had the privilege of presenting to the Knowledge Group (https://knowledgewebcasts.com/) on the subject of Anti-Money Laundering law and compliance. The presentation was a great success and I’m hopeful that all attendees learned a great deal. Here is a...
Cryptocurrency Banking – A Complex Challenge “I’m sorry, but your account has been closed”. These are words that no one wants to hear. Individuals and businesses require the services of banks and other financial institutions to function on a day-to-day basis. More and...
Something wonderful has happened in crypto. One of the biggest issues with Bitcoin, and cryptocurrency in general, is usability. In other words, if I wanted to buy your car for Bitcoin, up until now, you would have to give me a long, random set of characters (called a...
In Revenue Ruling 2019-24 the IRS considered what are the tax consequences of Taxation of Cryptocurrency forks and airdrops. Those of us who hold, or held, cryptocurrency during widely-followed forks, such as Bitcoin’s 2018 fork into Bitcoin and Bitcoin Cash, know...
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