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Many Bitcoin Investors Don’t Plan To Deduct Losses On Tax Returns

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Bitcoin investors took a massive hit in 2018 – and, according to personal finance company Credit Karma, most of them don’t realize they can write off the losses on their tax returns. According to a report in MarketWatch , citing Jagjit Chawla, general manager of tax at Credit Karma, U.S. investors lost $1.7

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Bitcoin Daily: IRS Eyes Hiring Contractors To Help With Crypto Taxes; Phemex Exchange To Launch Subscriptions Instead Of Charging Per Trade

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The IRS is seeking to have contractors assist in auditing digital currency tax returns, according to a post on CryptoTrader.Tax ‘s website. CryptoTrader.Tax is a tax software platform and is used by bitcoin as well as digital currency investors to manage their reporting. Phemex publicized a $3.5

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Crypto Fails To Impress For Corporate Tax Payments

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to allow businesses to pay their corporate taxes in bitcoin. While B2B use cases of blockchain are plenty (and gaining greater traction in use cases such as trade finance and cross-border corporate payments), adoption of bitcoin and other cryptocurrencies themselves remains muted in the business community.

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Bitcoin Daily: China Construction Bank Grows Blockchain Platform; IRS Tax Forms Now Ask About Crypto

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Projects such as Marco Polo create added value for clients, ensuring more international trade transparency and manageability thanks to integrated bank payment, finance and discount instruments,” Dina Merkulova, head of trade finance at Alfa-Bank, said in a press release.

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Why Timing Is Everything On Tax Day

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Tax Day for Americans is here, or at least it will be on Tuesday, April 17. This year is a bit of an unusual year as far as taxes are concerned, since April 15 actually falls on a Sunday. Back then, taxes weren’t due on April 15. Tax season used to be a month and a half shorter.

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Bitcoin Daily: Korean Commission Suggests Allowing FIs To Offer Crypto; China’s OneConnect Platform Supports New Blockchain Financing Product

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In other crypto news , cryptocurrency tax automation software TaxBit has raised $5 million in funding. Investors in the venture include TTV Capital, Dragonfly Capital Partners, Collaborative Fund, Winklevoss Capital, Valar Ventures, Global Founders Capital, Table Management, Album VC and more. . ”

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Bitcoin Daily: Gemcoin Founder Pleads Guilty In $147M Fraud Case; Dubliner Forfeits $67.6M In Bitcoin As Part Of Drug Case

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Steve Chen, the mastermind behind a $147 million gemcoin fraud from 2013 to 2015, pleaded guilty of his crimes of tax evasion and conspiracy to commit wire fraud, reported on Wednesday (Feb. The scheme was a multilevel marketing (MLM) operation that went on for two years, and managed to scam 70,000 victims for a total of $147 million.

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