Tax Week 2023

Confused by crypto taxes? CoinDesk rounds up expert opinion and analysis on new IRS reporting requirements, what you should be paying in taxes, how to avoid paying too much, and what to do if you are unsure, sponsored by TaxBit.

Tax Week 2023

Featured


Opinion

What You Need to Know About Crypto Tax Loss Harvesting

By selling assets with unrealized loss, taxpayers can limit their liabilities come tax time. Here’s how to do this legally and effectively.

(Yunha Lee/CoinDesk)

Opinion

New Form 1099-DA: What it Means for Digital Asset Brokers and Their Customers

Unpacking the IRS’ controversial new crypto tax regulation proposals.

The IRS has issued guidance on how it intends to tax crypto staking rewards. (Jesse Hamilton/CoinDesk)

Opinion

Time Is Running Out for Crypto Leaders to Reason With the IRS

A united front is needed to oppose bad tax regulation.

checkmate in staged chess game (GR Stocks/Unsplash, modified by CoinDesk)

Opinion

Congress Gets the Runaround From Regulators, Again

"If the broker rule proceeds as is, it will surely spell the near-total collapse of the crypto industry in the United States," writes Blockchain Association CEO Kristin Smith and DeFi Education Fund CEO Miller Whitehouse-Levine.

Blockchain Association CEO Kristin Smith said crypto lobbyists helped beat back disastrous regulations on "unhosted wallets." (Shutterstock/CoinDesk)

Opinion

The Global Movement to Promote Crypto Tax Transparency — What You Need to Know

In Europe and the U.S., there are a host of initiatives placing new requirements on participants in digital asset markets to report on transactions and meet other new provisions.

globe held in someone's hand (Greg Rosenke/Unsplash, modified by CoinDesk)

Consensus Magazine

‘We're Not Asking for Special Treatment’: Coin Center on the Proposed IRS Broker Rules

Peter Van Valkenburgh on why the crypto industry has responded with 120,000 comments to the controversial new tax regulations.

Crypto advocate Peter Van Valkenburgh argues the IRS' extended reporting requirements violate the First and Fourth Amendments. (Coin Center)

Opinion

The IRS and the Rising Cost of Crypto Tax Compliance

David Kemmerer anticipates the unintended consequences of proposed new regulations on brokers reporting crypto transactions. Expensive “tax experts” are set to benefit financially, he says, even if ordinary investors won’t.

MOSHED-2020-7-13-19-5-50

Opinion

What the IRS Gets Wrong About DeFi and Crypto in Its Latest Tax Reporting Proposal

Given the negative impacts of the so-called "broker rule" for many non-custodial and open platforms, clear congressional authorization is required before the Treasury could expand the tax agency's remit, Marisa Coppel argued at a hearing.

U.S. Treasury Building (Nikhilesh De/CoinDesk)

Opinion

What Are the Tax Implications of the Alleged Binance Wallet Hack (or Any Crypto Exploit)?

As with the FTX fraud, it’s unclear how tax authorities are going to treat tax issues when there’s criminal activity involved.

(Alpha Rad/Unsplash)

Opinion

The IRS Is Making Crypto Compliance Impossible

The 6045 digital asset broker regulations are likely to greatly increase the cost of filing your crypto taxes, says Kirk David Phillips, CPA.

(Jesse Hamilton/CoinDesk)

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