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IRS Zeroes in on Crypto, Digital Assets in Enforcement Plan
The IRS is pouring more resources into detecting “high-risk” noncompliance issues associated with digital assets, according to its strategic operating plan.
It’s Tax Season! Here Come the ‘Leech Brands’: Ben Schott (1)
Happy tax season to all who celebrate! Which is (or should be) everyone. But as you strive to do your civic duty (under penalty of perjury) ponder this: Just 2.4% of the 104 million US taxpayers eligible to use the IRS Free File Program did so in 2020. And more than 14 million of the lowest-paid Americans may have paid unnecessary commercial fees to file their 2019 taxes.
Why Crypto Is Watching Ethereum’s ‘Shanghai’ Upgrade: QuickTake
The Ethereum network is set to undergo a technical revamp on April 12 that will allow users to withdraw tens of billions of dollars of its native token, Ether. Known as the “Shanghai” upgrade, it’s a necessary step after the world’s most commercially important crypto platform shifted to a less power-hungry process for ordering transactions. Investors burned by recent turmoil in crypto markets will be wondering if, presented with their first opportunity to withdraw their tokens, some Ether holders will run for the hills.
FINANCE BRIEFING: Banks Fight Each Other as Fed Mulls New Rules
US banks are pitted against each other as regulators move to strengthen oversight after a series of failures undermined confidence in the financial system.
Can You Self-Custody Cryptocurrency Held in a Checkbook IRA?
Interest in holding cryptocurrency in self-directed IRAs has grown considerably. And until there’s further clarity, one should exercise caution with cryptocurrency in a checkbook IRA, says attorney Ari Good.
Thai Party Pledges $15 Billion Tokens to ‘Resuscitate’ Economy
Thailand’s main opposition party will hand out about 500 billion baht ($15 billion) in cash if it wins next month’s election to “resuscitate” the nation’s struggling economy and provide relief to those battling “neck-deep debt,” a party official said.
Dogecoin Falls As Much as 9%; Twitter Drops Meme For Home Button
Dogecoin fell as much as 9% as some Twitter users began to see their home buttons on the social media platform revert back to its iconic blue-bird logo after a few days of being replaced by the dog meme associated with the cryptocurrency.