The U.S. Internal Revenue Service (IRS) has sent another round of warning letters to cryptocurrency users. This time, the letters are much more serious and represent notifications on misreported income from exchange transactions.
An employer will be able to pay 50% of a salary to in BTC, according to a tax information bulletin by the New Zealand Inland Revenue Department published on July 4.
The new document is aiming to free cryptocurrencies from double taxation. The draft bill introduced by Representative Ted Budd (NC-R) is currently under consideration of the United States House Committee on the Budget awaiting approval.
The Internal Revenue Service (IRS) has issued the instruction on the distinction of the genuine letters from the fakes.
Beginning on August 1, Brazil citizens are obligated to report on their crypto transactions with the country’s tax authority, the Department of Federal Revenue (RFB).