Search results for IRS
Crypto
U.S. crypto tax rules hamper everyday bitcoin payments
Bitcoin users in the United States who pay with the cryptocurrency face heavy tax reporting burdens because each purchase is treated as a separate capital transaction, analysts say. They must record acquisition and disposal details and report them to the IRS on Form 8949 and Schedule D. Cato Institute researcher Nicholas Anthony says this makes routine payments impractical and weakens bitcoin’s currency function. He proposes policy changes, while payment tools advance faster than tax rules.
Crypto
OpenAI releases US industrial policy for the AI era, five changes crypto investors should watch
OpenAI has released a policy proposal calling for the United States to redesign its tax, welfare and energy systems as artificial intelligence spreads, an analysis said. The document outlines shifting taxation toward capital gains, reviewing taxes on automated labour, creating a public debt fund, expanding automatic safety nets and boosting energy infrastructure for AI. While it does not mention cryptocurrencies, the proposals could affect digital-asset taxes, DeFi and crypto mining through reporting rules, potential new levies and competition for grid access.
Crypto
U.S. IRS proposes allowing Coinbase, Kraken and other crypto exchanges to use electronic tax filing
The U.S. Internal Revenue Service has proposed changes to how cryptocurrency exchanges deliver tax reporting documents, The Block reported on March 5. If approved, exchanges such as Coinbase and Kraken could provide customers with tax forms electronically instead of on paper, with electronic delivery set as the default. The Block said the move is part of IRS efforts to strengthen oversight of digital asset trading. The proposal is under public consultation and not yet formally approved.
