A bitcoin atm machine with the coin in front of it.

Determining basis when you have been paid in virtual currency

If you have been paid for services in virtual currency, this payment is generally recognized as ordinary income and should ...
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A woman painting with a paintbrush and a canvas.

Hobby or business: here’s what to know about that side hustle

Sometimes the line between having a hobby and running a business can be confusing, but knowing the difference is important ...
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A person holding up a paper with the words disaster recovery plan written on it.

IRS offers tips on preparedness and how to protect personal information during natural disasters

So far in 2023, the Federal Emergency Management Agency (FEMA) has declared disasters for mudslides, landslides, severe storms, tornadoes and ...
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A laptop with coins on the screen and a nft logo.

IRS Proposes New Guidance Around NFT Classification That Would Increase Taxes

As reported by Blockworks in their March 23, 2023 publication, the Department of the Treasury and IRS issued a new ...
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A close up of an electric car charging

Proposed regulations related to the new clean vehicle critical mineral and battery components go into effect April 18

The Internal Revenue Service published proposed regulations recently in the Federal Register related to certain requirements that must be met ...
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A woman holding a laptop with the word scam alert on it.

Taxpayers should learn about these common tax scams

While scammers work hard during tax season to try to steal money, personal information and data, they also stay busy ...
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