US Crypto Taxes Are A Nightmare. Could These Proposals Help?

During our first phase, we’ll talk about:

Virtual Currency Tax Fairness Act of 2020

:The planned laws would exempt capital beneficial properties taxes if any particular mortal dealings ends in a capital acquire of $200 or much less. Previous variations of the bill planned a $600 cap. If handed, it power take impact inside the 2020 tax yr. Link – H.R. 5635

The IRS has a query for you:

Tax filers inside the U.S. are being requested if Link –IRS Form 1040

Yang proposes “Digital Asset Regulation”

: U.S. Presidential Candidate Andrew Yang desires to Clarify the tax implications of proudly owning, promoting, and buying and merchandising digital belongings. Yang says clear coverage will permit companies to take a position and introduce inside the space with out concern of a regulative shift. Link – Yang 2020

Later on, we’ll dig into the “why” of scams as we start an extended dialog on the subject.

Three details on scams:

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US Crypto Taxes Are A Nightmare. Could These Proposals Help?

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Patricia Bakely

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