Tag: crypto tax laws

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Elizabeth Warren, Bernie Sanders urge closure of ‘$50 billion crypto tax gap’

August 3, 2023

U.S. senators including Elizabeth Warren and Bernie Sanders claimed crypto tax evaders are siphoning off billions from the government. A number of United States’ lawmakers have urged the Internal Revenue Service (IRS) and the Treasury to speed up the closure of tax loopholes being exploited by “crypto tax evaders.” In an Aug. 1 letter, Democratic…
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IRS investigating crypto traders using Puerto Rico tax breaks: Report

July 13, 2023

“The noose is tightening” for wealthy Americans suspected of exploiting Puerto Rico’s relaxed tax regime. Prosecutors from the United States and agents from the Internal Revenue Service (IRS) are reportedly investigating wealthy crypto traders and fund managers suspected of illegally benefiting from Puerto Rico’s tax breaks.  According to a June 12 report from Bloomberg, investigators…
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