Articles for tag: Bitcoin, corporate minimum tax, cryptocurrency regulations, IRS, Michael Saylor, MicroStrategy, tax liabilities

Market News

MicroStrategy’s $19.3 Billion Bitcoin Gains: Impending Tax Liabilities Explained and Their Impact on the Company’s Future

MicroStrategy, led by CEO Michael Saylor, may face hefty tax liabilities related to its $19.3 billion in unrealized Bitcoin gains. The company holds over 450,000 BTC, worth more than $48 billion, including a recent $243 million purchase of Bitcoin at lower prices. Due to the 2022 Inflation Reduction Act, MicroStrategy could be subject to a ...

Market News

The Significant Billion-Dollar Impact of IRS Criminal Investigation Reports by Allen Barron, Inc.

The IRS Criminal Investigation Division has released its Fiscal Year 2024 report, revealing significant focus on financial crimes, particularly involving cryptocurrency. Notably, a U.S. taxpayer has pled guilty to tax evasion related to crypto sales, and Binance, the largest cryptocurrency exchange, has entered a historic $4 billion settlement for failing to prevent money laundering. The ...

Market News

IRS Criminal Investigation Reports: Understanding Their Billion Dollar Impact on Financial Crimes | Allen Barron, Inc.

The IRS Criminal Investigation division released its Fiscal Year 2024 report, highlighting recent efforts against tax evasion and financial crimes, especially in the cryptocurrency sector. Among significant developments, a U.S. taxpayer has pleaded guilty to tax evasion linked to cryptocurrency, and Binance Holdings settled a major case for $4 billion. The IRS has also initiated ...

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