IRS Modifies Approach to Bitcoin Scrutiny

  For the last several years, Bitcoin has been world’s hottest digital currency. Initially disregarded by many, the market value of one single Bitcoin has skyrocketed from an initial value of $13 in 2013 to a current market value of thousands of dollars per coin in August 2017. This has potentially left many people who  … Read more

IRS Enters Reporting Agreement With More Foreign Nations

Many American taxpayers diversify their investment portfolios by investing and holding their money overseas. There is nothing inherently wrong with this and makes sound financial sense. However, the IRS sees this money as hidden, lost tax revenue. Traditionally, the IRS has been unable to access this money as it relied on taxpayers self-reporting their foreign  … Read more