• Latest
IRS Allegedly Hopes to Make Tech Giants Release User Crypto Activity

IRS Allegedly Hopes to Make Tech Giants Release User Crypto Activity

July 9, 2019
ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
mintable launches industry changing gas free minting service on ethereum

Mintable Launches Industry Changing Gas Free Minting Service on Ethereum

May 1, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
nfts: the next musical revolution

NFTs: The Next Musical Revolution

April 24, 2022
things you should know before investing in nfts

Things You Should Know Before Investing in NFTs

April 24, 2022
what are wrapped tokens?

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?

What is the future of Ethereum (ETH)?

April 22, 2022
green gaming

Everything You Need to Know About Play-to-Earn on Algorand in 2022

April 21, 2022
$ape going bananas as rumors of upcoming land sale of bayc metaverse gather momentum

$APE Going Bananas As Rumors of Upcoming Land Sale of BAYC Metaverse Gather Momentum

April 21, 2022
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
CoinNewsDaily
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
CoinNewsDaily
No Result
View All Result
Home Litecoin

IRS Allegedly Hopes to Make Tech Giants Release User Crypto Activity

coinnewsdaily by coinnewsdaily
July 9, 2019
in Litecoin
0
IRS Allegedly Hopes to Make Tech Giants Release User Crypto Activity
190
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

The United States’ Internal Revenue Service (IRS) is allegedly considering requiring tech giants to report on crypto activity by users, according to a presentation reportedly from an IRS presentation and provided by a Twitter user on July 9.

According to the documents shared, the IRS hopes to use Grand Jury subpoenas on firms such as Apple, Google and Microsoft to check taxpayers’ download history for crypto-related applications.

Known as Crypto Tax Girl, Laura Walter, certified public accountant and crypto tax specialist, tweeted the presentation, which was allegedly for agents in the IRS’s Criminal Investigation division.

Citing the document, Walter concluded that the tax authority is conducting exhaustive research into detection of criminal tax evasion cases involving crypto. As such, the IRS is considering carrying out interviews, open-source and social media searches, as well as electronic surveillance, the expert noted.

Startlingly, the 181-page document reads:

“Grand Jury Subpoena should be considered for Apple, Google, and Microsoft for the Subject’s complete application download history. Each application’s function should be explored to determine whether or not the application can transmit, or otherwise allow, transactions in bitcoin.”

As Walter emphasized, the presentation envisions that IRS agents ensure that taxpayers are not notified about the obtained information regarding their use of cryptocurrencies to prevent detrimental to the investigation.

Cointelegraph notes that the IRS has not confirmed the authenticity of the presentation’s origin.

According to the documents provided, the IRS is hoping to serve subpoenas to check data from accounts in banks and Paypal for connection with crypto transactions. Additionally, the tax authority is considering reviewing social media giants such as Facebook and Twitter to find and record publicly available cryptocurrency addresses.

Concluding the thread, Crypto Tax Girl wrote:

“There is a ton of other information in there about crypto in general, tracing transactions via the blockchain, limitations of the blockchain, etc. but what you need to know is that the IRS is working HARD to identify criminal tax cases involving cryptocurrency.”

As previously reported, the IRS currently considers cryptocurrencies property. In late 2018, an advisory committee of the IRS expressed its intent to provide additional guidelines for the taxation of crypto transactions.

Recently, Cointelegraph reported on Singapore’s plan to exempt cryptocurrencies that are intended to function as a medium of exchange from Goods and Services Tax (GST).

Credit: Source link

Related articles

Bitcoin Will Overtake Gold’s MarketCap in 9 years, Says Bobby Lee |

Sell or hodl? How to prepare for the end of the bull run, Part 2

April 10, 2022
How to prepare for the end of the bull run, Part 1: Timing

How to prepare for the end of the bull run, Part 1: Timing

April 3, 2022
Tags: crypto-related applicationsLaura WalterLitecoinSingaporesocial media searchesTwitter
Share76Tweet48
Previous Post

Chia Releases Green Paper Detailing Eco-Friendly Means of Crypto Mining

Next Post

Facebook’s David Marcus Assures Congress That Libra Will Cooperate

coinnewsdaily

coinnewsdaily

CoinNewsDaily.com is an online Crypto Coin News Website that aims to provide latest trendy news from market and around the world.

Related Posts

Bitcoin Will Overtake Gold’s MarketCap in 9 years, Says Bobby Lee |
Bitcoin

Sell or hodl? How to prepare for the end of the bull run, Part 2

April 10, 2022
How to prepare for the end of the bull run, Part 1: Timing
Bitcoin

How to prepare for the end of the bull run, Part 1: Timing

April 3, 2022
Bull or bear market, creators are diving headfirst into crypto
Alt Coin

Bull or bear market, creators are diving headfirst into crypto

April 2, 2022
crypto listing and delisting announcements: week 9
Alt Coin

Crypto Listing and Delisting Announcements: Week 9

February 28, 2022
unstable markets how to invest in cryptocurrency
Alt Coin

How to invest in cryptocurrency when the market is uncertain, explained

December 21, 2021
be your own banker secrets
Alt Coin

Bitcoin and Crypto Wallet Hygiene 101

November 22, 2021
Load More
Next Post
Facebook’s David Marcus Assures Congress That Libra Will Cooperate

Facebook’s David Marcus Assures Congress That Libra Will Cooperate

Categories

  • Alt Coin
  • Bitcoin
  • Business
  • Ethereum
  • ICO
  • Litecoin
  • Mining
  • NFT
  • Ripple
  • Tech
  • Trading

What New here?

  • YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch
  • Mintable Launches Industry Changing Gas Free Minting Service on Ethereum
  • 5 Projects Enabling Smart Contract Development on Bitcoin

Subscribe to Get More!

Loading
  • About Us
  • Contact Us
  • Privacy & Policy

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

  • bitcoinBitcoin(BTC)$21,021.00-1.64%
  • ethereumEthereum(ETH)$1,225.67-0.01%
  • tetherTether(USDT)$1.000.11%
  • binancecoinBNB(BNB)$239.080.04%
  • rippleXRP(XRP)$0.349423-3.82%
  • cardanoCardano(ADA)$0.491825-2.46%
  • SolanaSolana(SOL)$39.35-2.90%
  • dogecoinDogecoin(DOGE)$0.071775-6.96%
  • polkadotPolkadot(DOT)$7.82-3.59%
  • Shiba InuShiba Inu(SHIB)$0.000011-4.15%
  • tronTRON(TRX)$0.067869-2.21%
  • daiDai(DAI)$1.000.24%
  • leo-tokenLEO Token(LEO)$5.81-1.11%
  • matic-networkPolygon(MATIC)$0.55-6.77%
  • litecoinLitecoin(LTC)$56.20-2.87%
  • FTXFTX(FTT)$27.52-1.47%
  • OKBOKB(OKB)$12.42-1.90%
  • CronosCronos(CRO)$0.125532-1.24%
  • chainlinkChainlink(LINK)$6.67-3.15%
  • stellarStellar(XLM)$0.119542-2.84%
  • cosmosCosmos Hub(ATOM)$7.94-5.89%
  • algorandAlgorand(ALGO)$0.333195-2.58%
  • ethereum-classicEthereum Classic(ETC)$16.57-3.46%
  • moneroMonero(XMR)$121.59-5.06%
  • bitcoin-cashBitcoin Cash(BCH)$111.25-4.07%
  • vechainVeChain(VET)$0.025050-0.30%
  • tezosTezos(XTZ)$1.657.89%
  • Internet ComputerInternet Computer(ICP)$5.91-0.80%
  • theta-tokenTheta Network(THETA)$1.35-2.96%
  • filecoinFilecoin(FIL)$5.81-3.53%
  • ElrondElrond(EGLD)$56.34-1.98%
  • bitcoin-cash-svBitcoin SV(BSV)$59.50-3.76%
  • eosEOS(EOS)$1.00-1.96%
  • AaveAave(AAVE)$67.901.43%
  • makerMaker(MKR)$1,013.54-3.49%
  • paxos-standardPax Dollar(USDP)$1.000.12%
  • huobi-tokenHuobi(HT)$5.30-0.95%
  • iotaIOTA(MIOTA)$0.293039-0.82%
  • zcashZcash(ZEC)$62.38-5.94%
  • neoNEO(NEO)$9.55-2.69%
  • zilliqaZilliqa(ZIL)$0.044263-5.20%
  • basic-attention-tokenBasic Attention(BAT)$0.395843-2.44%
  • wavesWaves(WAVES)$5.81-5.29%
  • havvenSynthetix Network(SNX)$2.43-12.09%
  • dashDash(DASH)$49.26-3.21%
  • PancakeSwapPancakeSwap(CAKE)$3.37-1.42%
  • KusamaKusama(KSM)$54.07-2.01%
  • nemNEM(XEM)$0.0426131.52%
  • Elrond ERDElrond ERD(ERD)$0.0259290.00%
  • CompoundCompound(COMP)$50.51-2.71%
  • ethlendAave [OLD](LEND)$4.103.48%
  • qtumQtum(QTUM)$3.05-1.09%
  • bitcoin-goldBitcoin Gold(BTG)$17.14-2.35%
  • omisegoOMG Network(OMG)$2.021.97%
  • golemGolem(GLM)$0.2539064.16%
  • SushiSushi(SUSHI)$1.18-0.67%
  • ontologyOntology(ONT)$0.2513192.55%
  • yearn-financeyearn.finance(YFI)$6,117.18-8.64%
  • umaUMA(UMA)$2.70-2.49%
  • digibyteDigiByte(DGB)$0.010137-4.36%
  • UniswapUniswap(UNI)$2.4438.80%
Posting....