Cryptocurrency Archives - Page 6 of 12 - Foodman CPAs and Advisors

Dirty Dozen for 2022

July 2022

According to the IRS, the Dirty Dozen represents the worst of the worst tax scams. The Dirty Dozen is a list that is compiled annually by the IRS in order to alert taxpayers, tax professionals and financial institutions of tax

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Digital Asset Report from DOJ

July 2022

A Digital Asset Report was issued on 6/6/22 by the DOJ – Report pursuant to Section 8(b)(iv) of President Biden’s March 9, 2022, Executive Order on Ensuring Responsible Development of Digital Assets. The Report is presented by Attorney General Merrick

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FATF 2022 Strategic Initiatives

July 2022

The Financial Action Task Force (FATF) is an independent inter-governmental entity that develops policies for protection of our global financial system from money laundering, terrorist financing and financing of weapons of mass destruction. It is considered to be the global

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IRS warns Taxpayers against Tax Avoidance Strategies

July 2022

The IRS wrapped its 2022 Dirty Dozen scams list urging taxpayers to watch out for and avoid being misled by tax avoidance strategies. Making the 2022 List are Cryptocurrency, non-filing, abusive syndicated conservation easement and abusive micro-captive deals. Taxpayers ought

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1099-K: Will Small Businesses be Ready for the New Form?

July 2022

As a result of the American Rescue Plan Act of 2021, effective for Tax Returns for the Calendar year 2022, small business that accept payment cards as a form of payment will receive a Form 1099-K for the gross amount

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¿Está su Criptomoneda en una Billetera Personal o en un Intercambio?

June 2022

La respuesta a la pregunta: “¿Está su criptomoneda en una Billetera Personal o en un Intercambio?” importa, ya que hemos aprendido que las criptomonedas que se mantienen en un “Crypto Exchange” (Intercambio) NO es lo mismo que las criptomonedas que

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La Venida de FATCA a los Activos Digitales

May 2022

La Propuesta de Ingresos del Año Fiscal 2023 de la Administración de Biden incluye “Reglas de Modernización” para abordar los activos digitales que requerirán informes por parte de ciertos contribuyentes de cuentas de activos digitales extranjeros. El cumplimiento y la

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Is your Crypto in a Personal Wallet or in an Exchange?

May 2022

The answer to the question: “Is your Crypto in a Personal Wallet or in an Exchange?” matters as we have learned that cryptocurrency held in a Crypto Exchange is NOT the same as cryptocurrency held in a Personal Wallet in

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¿Víctima de Cripto-Fraude? Un Contador Forense Puede Ser Capaz de Ayudar

May 2022

Los inversionistas en el espacio de cripto deben estar conscientes de que el cripto-fraude existe en el espacio criptográfico de la misma manera que existe y tiene lugar en el espacio fiduciario tradicional. Los cripto-inversionistas han perdido criptomonedas como resultado

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FATCA coming to Digital Assets

May 2022

The Biden’s Administration’s Fiscal Year 2023 Revenue Proposal includes “Modernize Rules” to address Digital Assets that will require reporting by certain Taxpayers of Foreign Digital Asset Accounts. Tax compliance and enforcement with respect to digital assets has become a growing

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Victim of Crypto Fraud? A Forensic Accountant May be Able to Help

May 2022

Victim of Crypto Fraud? A Forensic Accountant May be Able to Help. ARTICLE PUBLISHED BY THE DAILY BUSINESS REVIEW 5/10/22

Daily Business Review

IRS updates its Voluntary Disclosure Program, and it includes Crypto

April 2022

The IRS wants to encourage Voluntary Disclosure participation and reduce Taxpayer uncertainty, but its current Voluntary Disclosure Program is not set up for success according to the 2021 National Taxpayer Advocate Annual Report, issued in January 2022. Shortly thereafter, in