EDUSELL
Financial Market Examiner
Midas Crypto Vault
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews
No Result
View All Result
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews
No Result
View All Result
Financial Market Examiner
No Result
View All Result
Home Crypto News

31% Of Investors Do Not File Crypto Taxes To IRS

Admin by Admin
February 8, 2023
in Crypto News
0
Natwest Announced New Limits On Cryptocurrency Payment
0
SHARES
4
VIEWS
Share on FacebookShare on Twitter
MMC MMC

According to an online survey of 305 US adults conducted by YouGov in collaboration with CoinLedger, 31% of bitcoin and crypto investors still need to report crypto assets on their tax filings.

The lack of crypto tax reporting compliance is attributed to several factors including a need to understand the tax implications of crypto transactions. The survey finds that just 38% of crypto investors correctly identified the types of taxable crypto transactions.

“It’s no secret that tax reporting is a big problem in the crypto industry. The level of non-compliance may be shocking to some, but it isn’t surprising given the lack of regulatory clarity and enforcement guardrails in the space.”David Kemmerer, CEO of CoinLedger

58% of respondents indicated that they report crypto on their tax filings, while 50% of non-taxpayers cited a lack of profit as their reason for not paying taxes on their crypto investments. 

Furthermore, 68% of respondents indicated that they would find it easier to file their correct taxes if given more info and guidance on the exercise by cryptocurrency exchange platforms. 

With crypto market participants like Binance, Cryptiony, and a few others now making efforts to create tools that simplify crypto tax reporting, coupled with the increased scrutiny by tax authorities such as the IRS as well as those across other jurisdictions, crypto tax evasion is expected to decrease significantly going forward.

Share on TwitterTweet
Share on Pinterest Share
Share on LinkedIn Share
Share on Digg Share
Tags: CryptoinvestorsIRS
Institutional Trading Concept Institutional Trading Concept Institutional Trading Concept
ADVERTISEMENT
Previous Post

Bitvavo Will Receive 80% Of DCG Debt

Next Post

North Korean Hackers Stole A Record Amount Of Crypto In 2022

Admin

Admin

Next Post
Openai's GPT-4 Launch Sparks Surge In AI-Centric Crypto Assets

North Korean Hackers Stole A Record Amount Of Crypto In 2022

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

  • 99 Subscribers
  • Trending
  • Comments
  • Latest
yen and dollar

FOREX-Yen Flirts With Intervention Level As Dollar See Gains

October 11, 2022
AUD USD pair

Forex: AUD/USD Point To More Downside For The Aussie

October 20, 2022
Mayowa Owolabi on battles traders need to fight

Battle Every Trader Must Fight (Part 1)- Mayowa Owolabi

August 31, 2022
Virtual stadium in the metaverse

Why Virtual Stadium Can Be the Next Big Thing in the Metaverse

January 26, 2023
EUR/USD pair

EUR/USD Recovers from 20-year Lows

2
What is Initial Coin Offering?

Initial Coin Offering (ICO)

0
What is staking?

Staking

0

Defi (Decentralized Finance)

0
Crypto Influencer Allegedly Threatened Attorney Behind FTX Class Action Suit

Crypto Influencer Allegedly Threatened Attorney Behind FTX Class Action Suit

March 22, 2023
Gisele Bündchen Says She Was Blindsided By Terrible FTX Collapse

Gisele Bündchen Says She Was Blindsided By Terrible FTX Collapse

March 22, 2023
Nvidia Teams Up With Microsoft On Industrial Metaverse

Nvidia Teams Up With Microsoft On Industrial Metaverse

March 22, 2023
CFTC Commissioner Says Congress Must Order Crypto Regulators To Cooperate

CFTC Commissioner Says Congress Must Order Crypto Regulators To Cooperate

March 22, 2023

Recent News

Crypto Influencer Allegedly Threatened Attorney Behind FTX Class Action Suit

Crypto Influencer Allegedly Threatened Attorney Behind FTX Class Action Suit

March 22, 2023
Gisele Bündchen Says She Was Blindsided By Terrible FTX Collapse

Gisele Bündchen Says She Was Blindsided By Terrible FTX Collapse

March 22, 2023
Nvidia Teams Up With Microsoft On Industrial Metaverse

Nvidia Teams Up With Microsoft On Industrial Metaverse

March 22, 2023
CFTC Commissioner Says Congress Must Order Crypto Regulators To Cooperate

CFTC Commissioner Says Congress Must Order Crypto Regulators To Cooperate

March 22, 2023
Financial Market Examiner

Get all the latest Financial Market (Crypto & Forex) news, updates and other relevant resources here.

Follow Us

Browse by Category

  • Crypto News
  • Education
  • Forex News
  • Gaming
  • Review
  • Reviews
  • Stocks
  • Uncategorized

Recent News

Crypto Influencer Allegedly Threatened Attorney Behind FTX Class Action Suit

Crypto Influencer Allegedly Threatened Attorney Behind FTX Class Action Suit

March 22, 2023
Gisele Bündchen Says She Was Blindsided By Terrible FTX Collapse

Gisele Bündchen Says She Was Blindsided By Terrible FTX Collapse

March 22, 2023

© 2022 Financial Market Examiner. - Designed by Mayconcept Solutions.

No Result
View All Result
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews

© 2022 Financial Market Examiner. - Designed by Mayconcept Solutions.

?>