Bitcoin: When Are Taxes Due?

If you’re still asking “when are taxes due?” this morning, today may be a tough one for you. Sorry Bitcoin HODLers and traders, your tax returns deadline is today, April 15. Bitcoin: When Are Taxes Due and Where to Start? Like many things surrounding Bitcoin, Bitcoin taxes are still somewhat shrouded in mystery. However, complicated as they may be, a quick…

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First Canadian Municipality Starts Accepting Bitcoin For Property Taxes

The town of Innisfil, Ontario will be the first municipality in Canada to accept bitcoin in payment for property taxes. The pilot scheme will be in partnership with Toronto-based Coinberry, who simultaneously announced a new easy-to-use cryptocurrency payment solution. ‘Tax Payments in BTC’ Trend Reaches Canada Accepting bitcoin for payment of taxes is becoming a thing south of Canada’s border. After a mad…

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Bitcoin for Starbucks Coffee Poses Significant Tax Filing Issues

Using Bitcoin to pay for coffee at Starbucks might come with some difficult implications as far tax filings are concerned.  Increased Bitcoin Tax Filing Palaver As reported by Bitcoinist, part of the Bakkt launch will see the adoption of Bitcoin payment for coffee at Starbucks. Reports indicate that Starbucks had received a significant stake in Bakkt in exchange for allowing people…

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UK MP Wants to To Introduce Bitcoin Tax Payments

UK Member of Parliament, Eddie Hughes, has called for local authorities to take a lead, and accept Bitcoin payments. The Conservative politician also believes that a lack of reliable information is holding back wider adoption. The UK Should Take the Lead MP Hughes’ comments, reported in the Express newspaper, follow the recent announcement that Ohio now allows local companies to pay taxes…

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Crypto Accounting Firm Predicts Massive Loss Claims in IRS Tax Filings for 2019

With more people rushing into the cryptocurrency market since late 2017 and the subsequent year-long bear market in 2018, one accounting envisages a barrage of loss claims in cryptocurrency and Bitcoin tax filings next year. Record Loss Claims in Cryptocurrency Tax Filings In a press release by NODE40 – a cryptocurrency accounting firm, the company forecasts that the United States Internal…

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Ohio Becomes 2nd U.S State to Accept Bitcoin for Tax Payments

In what could be a further critical sign of cryptocurrency adoption in the U.S, businesses in Ohio will shortly be able to pay their taxes online using Bitcoin. The progression will be rolled out to personal taxpayers at some point in the future. ‘Planting a Flag’ for Bitcoin Adoption in Ohio State Treasurer Josh Mandel pioneered the idea in Ohio and…

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France Considers a Flat Capital Gains Tax for Bitcoin

The finance commission in France’s lower house of parliament has reportedly backed plans to decrease taxes on bitcoin sales, putting it on the same level as the standard capital gains tax. 30% Flat Tax on Bitcoin Gains Reuters reports that the finance commission in the lower house of the French parliament has backed plans to ease taxation on bitcoin gains to…

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Student Turns $5K into $800K Trading Crypto, But Now Owes $400K in Taxes

One college student turned his $5K investment into $880k but now says trading “ruined” his life as he’s facing $400k in cryptocurrency taxes.  From Big Profits to a Tax Nightmare An anonymous college student recently posted on Reddit to solicit advice about what to do while they face a massive tax bill in the wake of cryptocurrency trading. According to the…

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