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Samuel Stokes
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Samuel Stokes   My Press Releases

The IRS Just Made a Big Crypto Announcement

Published on 6/4/2019
For additional information  Click Here

The IRS Just Made a Big Crypto Announcement

 

Alright, you may not get the significance of this but let me just say that the IRS, historically, doesn't have much to say that is made available for public consumption.  So, that makes this a Really Big Deal.  I mean, it’s not often we want to hear from the IRS…

Usually, when the tax man speaks it’s not good news. He’s either raising rates or sending bills.

Tax fraud in the U.S. is rampant. The tax code is confounding. And have you ever called the IRS for tax help? The wait can last hours.

So it’s no wonder a Pew Research survey found Americans dislike the IRS more than any other federal agency.

Dealing with the IRS can be a headache… especially for cryptocurrency investors.

Over the years, we’ve received hundreds of emails from Daily readers asking about taxes on their crypto profits. It’s one of the most frequent questions we receive. 

We share that frustration. The IRS has been useless when it comes to providing direction. Even trusted certified public accountants (CPAs) struggle when answering the most basic crypto-related tax questions.

But the tide is turning…

Last week, the IRS announced it will issue crypto tax guidance for the first time since 2014.

Here’s what IRS Commissioner Charles P. Rettig wrote in a letter to Congress:

I share your belief that taxpayers deserve clarity on basic issues related to the taxation of virtual currency transactions and have made it a priority of the IRS to issue guidance.

This is good news for crypto investors…

You see, the IRS just acknowledged cryptos as a sustainable asset class. The agency wouldn’t waste time on guidance if it didn’t think cryptos would be around for the long haul.  

 

by Nick Rokke

 

 

To Our Mutual Success in 2019,



 
Samuel Stokes
Phone #: 253.576.3570
Skype- darkstar1957
E-Mail: stokes.samuel1@gmail.com
http://www.ibourl.com/kfr

 

 

 

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