Bitcoin is about to have its tenth birthday — and it’s starting to complicate many a divorce. From asset allocation to tax implications, digital currency is disrupting the business of dissolution. What is Crypto? The cryptocurrency world is a mushrooming market among early adopters, but the average person is only ambiently aware of them. They’ve […]
The IRS and Canadian Revenue Agency are teaming up. In fact, the later just sent the former identifying data on 1.6 million Canadian accounts. FACTA: The Who, What, When, Where, Why WHO: An acronym for the Foreign Account Tax Compliance Act, FACTA is a U.S. law that, among other things, requires foreign nations to disclose […]
On May 14, 2018, the cryptocurrency trading platform Bitfinex declared that users must disclose certain information for tax reporting purposes. The exchange, which is based in the British Virgin Islands (“BVI”), announced that jurisdictional regulations require it to hand over certain financial information to the BVI government. In turn, BVI officials “may” exchange that information […]