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House Representative Suzan DelBene, introducing the latest iteration of the bill, said the United States needs to "ensure that our tax code evolves with our use of virtual currency."

The IRS crypto tax news hitting investors today could mean big things for the future of the way the government taxes digital currency.

There are several reasons why your tax return may get flagged or audited by the IRS. Heres how to avoid IRS scrutiny and processing delays.

The Tezos validator who took the IRS to court argues that staking rewards should be treated as created property rather than income.

Some significant events are taking place in the crypto space these days, and Scott Melker addressed a recent one. Check The post The IRS Will Not Tax Unsold Staked Crypto As Income, Sources Say first appeared on CryptoGazette - Cryptocurrency News .

The IRS currently taxes cryptocurrencies generated through staking as income,

IRS may not tax staking rewards until sold The Nashville couples case against the IRS. Read this full report

A Nashville couple filed a suit against the IRS in 2021 claiming that they were wrongfully taxed for crypto rewards they neither sold nor claimed, and the IRS is now paying out a refund with interest.

The IRS has protections in place that mean some families who received too much through the child tax credit won''t have to repay the money.

Despite warnings of a hectic tax season, some people who filed returns when the IRS began accepting them a week ago have already received their refunds.

The Treasury Department and IRS are looking at other alternatives to controversial facial recognition software ID.me, according to a report from Bloomberg.

When the Tax Cuts and Jobs Act was signed into law in 2017, proponents said it would make filing taxes easier for millions of Americans. It hasnt worked out that way. SEE MORE 2021 Tax Returns: What''s New on the 1040 Form This Year While the tax overhaul nearly doubled the standard deduction , sharply reducing the number of taxpayers who need to itemize deductions, taxes have become even more fraught for millions of taxpayers. In part, thats because lawmakers have tweaked the tax code to provide credits and deductions for non-itemizers . Those tax breaks could lower your tax bill but also require more work when it comes time to file. In addition, as Congress scrambled to prevent the COVID-19 pandemic from torpedoing the economy, it funneled billions in economic stimulus payments through the IRS in the form of tax credits. When you file your 2021 tax return, you may need to reconcile those credits to claim funds you should have received or, in a few cases, pay some of that money back.

IRS Seeing ''Mountains Of Fraud'' In Cryptocurrencies, NFTs: Special Agent Authored by Katabella Roberts via The Epoch Times (emphasis ours), A special agent from the Internal Revenue Service has warned that non-fungible tokens ( NFTs ) and cryptocurrencies are highly susceptible to fraud and manipulation as they grow in popularity. A woman looks at a NFT by Ryoji Ikeda titled "A Single Number That Has 10,000,086 Digits" during a media preview at Sotheby''s in New York on June 4, 2021. (Timothy A. Clary/AFP via Getty Images) Speaking at a virtual event held on Tuesday by the USC Gould School of Law, Ryan Korner from the IRS Criminal Investigations Los Angeles field, said that both NFTs and cryptocurrencies are becoming a growing area of concern for regulators and tax collectors as theyve steadily become more mainstream. Were just seeing mountains and mountains of fraud in this area , Korner said, according to Bloomberg . An NFT is a digital asset that uses blockchain technology to record the ownership status of digital objects like artwork, music, and even memes.

More federal stimulus checks seem highly unlikely now, but many are still hoping Congress or the IRS will come up with some positive news on more stimulus money. On Wednesday, the IRS did come up with coronavirus stimulus checks news, but it was related to the third round. The IRS announced that it is now []

A controversial new program that uses facial recognition is part of a national effort to verify identities and reduce fraud.