Wendy Walker | Source | Solutions Principal at Sovos
Wendy Walker
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Since 2014, investors have demanded more clarification from IRS Commissioner Charles Rettig on the cryptocurrency income that should be reported to the IRS. And while many, including members of Congress, looked to the IRS to provide more guidance, investors were instead met with a threat of enforcement.
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Most taxpayers lack 1099 forms for reporting crypto transactions
The Internal Revenue Service is including a question at the top of Schedule 1 of the Form 1040 this year asking taxpayers whether they received, sold, sent, exchanged or acquired a financial interest in virtual currency in 2019, but most taxpayers won’t have any record from a Form 1099 about their…
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Crypto Holders Still Face Issues Reporting Tax Liabilities, Survey of CPAs Finds - CoinDesk
Certified Public Accountants familiar with crypto largely believe their clients might face audits or penalties for under-reporting holdings in past years, according to a survey.
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Crypto tax around Ethereum staking requires a lot more clarity - AMBCrypto
Ethereum moves towards a Proof of Stake [PoS] system, the need for clear guidelines arises as the users are still confused about the treatment of...
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Sovos
Solutions Principal