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The safe harbor rules say you can avoid IRS penalties by paying at least 90% of your 2024 tax liability or 100% of 2023 taxes, whichever is smaller. You must meet these thresholds throughout the year.
The IRS currently requires crypto users to report many digital asset activities on their tax returns, regardless of whether the transactions resulted in a gain.
If you’re a crypto investor or have been paid in bitcoin or other cryptocurrency for your services, you’re going to have to report your taxable transactions on your 2023 tax return, which for ...
Most U.S. crypto owners haven’t reported their activities to the IRS, according to a recent study by Divly, a company focused on easing the burden of crypto taxation. Only an estimated 1.62 ...
EFTPS allows individuals and businesses to make their tax and estimated tax payments securely online using their bank accounts. Payments can be made only after enrolling in the system, and the enrollment process can take about a week (initial online enrollment is followed by relevant information being sent by physical mail, after which the online enrollment process may be completed).
The timeline is slightly different if you maintain custody of your crypto assets and trade them on decentralized platforms in peer-to-peer (or wallet-to-wallet) transactions, such as Uniswap and ...
The tax form typically provides all the information you need to fill out Form 8949. However, crypto exchanges may not provide a 1099, leaving you with work to do, though the best crypto brokers ...
A 1031 exchange is similar to a traditional IRA or 401(k) retirement plan. When someone sells assets in tax-deferred retirement plans, the capital gains that would otherwise be taxable are deferred until the holder begins to cash out of the retirement plan. The same principle holds true for tax-deferred exchanges or real estate investments.