IRS Intimates Taxpayers to Disclose Crypto Income

IRS Intimates Taxpayers to Disclose Crypto Income

The Internal Revenue Service (IRS) has intimated the taxpayers regarding the inclusion of income generated from cryptocurrencies in the annual taxation forms. The IRS has detailed that the profit or loss incurred via crypto assets would attract capital gain tax. The wages paid to employees in the crypto market are taxable and crypto payments to the service providers are to be detailed in Form 1099.

Leave a Reply

Your email address will not be published. Required fields are marked *