Law360 (November 13, 2019, 8:01 PM EST) — The Internal Revenue Service recently provided tax refunds to some cryptocurrency users who complied with letters sent by the agency as part of a crackdown on reporting requirements, representatives of a software company told Law360 on Wednesday.
Some cryptocurrency users who received letters from the IRS asking them to prove they had met cryptocurrency transaction reporting requirements received tax reductions and even refunds after providing the IRS with the details of trades, said CoinTracker co-founder Chandan Lodha and its tax strategy head, Shehan Chandrasekera.
“For those cryptocurrency users who are willing to work with the IRS, the agency has shown that…
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!
Get the daily email from CryptoNews that makes reading the news actually enjoyable. Join our mailing list to stay in the loop to stay informed, for free.
