IRS Invites Cryptocurrency Advocates to March Summit
Cryptocurrency companies and advocates will meet in DC to discuss how the IRS can “balance taxpayer service with regulatory enforcement.”
With the 2019 tax season upon us, the IRS is leaving nothing off the table. Cryptocurrency holders are looking for ways to avoid reporting failures on their returns, and the agency has noticed.
According to a Feb. 19 report by Bloomberg Tax, the IRS has invited cryptocurrency companies and advocates to appear for a March 3rd summit in Washington DC. Among the aims of the summit are determining how to “balance taxpayer service with regulatory enforcement.”
Topics under discussion at the summit include regulatory guidance and compliance, preparing tax returns, issues for cryptocurrency exchanges, and technology updates. Each panel will last 90 minutes and feature speakers from the government and private sector.
Declaring cryptocurrency on your tax return
Crypto holders in the United States need to know how to declare their assets on their 1040 form. This year’s tax return is the first to include a question on virtual currency.
let us know if you have other interesting news about this topic or other interesting crypto news. Take a look at our useful collection of bitcoin videos and learn more about Bitcoin and Blockchain. Investing in Crypto can be very profitable but always make sure you’re keeping your coins safe and keep being informed reading our latest news about cryptocurrencies.
You’re invited to share your opinion about this news “IRS Invites Cryptocurrency Advocates to March Summit” by adding your comment bellow. Let’s keep this discussion civilized with a non-offensive language.