September 2, 2017
Virtual Currency Update: Large FinCEN Civil Penalty Assessments and an Update Regarding IRS Coinbase Summons

Virtual Currency Update: Large FinCEN Civil Penalty Assessments and an Update Regarding IRS Coinbase Summons

$110m Civil Penalty Levied Against Russian Cryptocurrency Exchanger Last week, the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) announced that they had assessed a civil penalty […]
September 1, 2017
Virtual Currency and Section 1031 – A Retraction and New Position

Virtual Currency and Section 1031 – A Retraction and New Position

We previously brought you a story suggesting that it may be possible to utilize Section 1031 of the Internal Revenue Code to defer the gain on […]
June 28, 2017
States Passing Laws Adressing Blockchain

The federal government is not waiting around for taxpayers to self-report their gains from the exchange of cryptocurrency.

In a legal battle that began last year and has continued into 2017, the IRS is attempting to force the release of virtual currency broker’s customer […]
June 23, 2017
How Do I Report Bitcoin Transactions on my Taxes? 1040? Schedule D? Form 8949?

How Do I Report Bitcoin Transactions on my Taxes? 1040? Schedule D? Form 8949?

The IRS’s decision to characterize virtual currency such as Bitcoin as property rather than currency resulted in a number of tax impacts. Fundamentally, treating Bitcoin and […]
April 3, 2017
How Do I Report Bitcoin Transactions on my Taxes? 1040? Schedule D? Form 8949?

(RETRACTED) Is it Possible to do a 1031 exchange with Bitcoin, Ethereum, or other Electronic/Crypto Currencies?

RETRACTED: We have decided to retract and revise the position in our recent blog post. Click here to learn more.   Individuals who were quick to […]
February 12, 2017
Bitcoin purchase

California Man Makes More than $1 Million Through Bitcoin Home Purchase

Many people are somewhat perplexed when they find out that the IRS does not consider Bitcoin to be currency. After all, isn’t Bitcoin a medium of […]