4+ day, 19+ hour ago   (116+ words) news.bloombergtax.com The US audit watchdog approved a scaled-back version of its firm governance overhaul that strips out provisions backed by investors, including independent oversight of quality safeguards. Auditors have until December to adopt the new quality control standard…...

1+ week, 2+ day ago   (143+ words) The IRS reached an agreement with a New York couple that they no longer owed taxes or penalties, after previously disallowing their $965,000 theft loss deduction related to a cryptocurrency investment scam, according to a US Tax Court decision Friday. Brian…...

2+ week, 3+ hour ago   (98+ words) news.bloombergtax.com A vast majority of the congressional endorsements a key cryptocurrency group has issued this election cycle have either been in races deemed uncompetitive or where two pro-crypto candidates already are facing off, a Bloomberg Government analysis found....

2+ week, 6+ day ago   (112+ words) news.bloombergtax.com Cryptocurrency trade groups are bringing another legal challenge to Illinois’s first-in-the-nation tax on digital asset transactions, alleging the state hastily enacted a “flawed and unlawful statute.” The Blockchain Association and the Crypto Council for Innovation filed suit…...

3+ week, 3+ day ago   (853+ words) Multinationals sharing proprietary AI agents among their subsidiaries risk the possibility of more disputes with tax authorities as questions arise about how to price that sharing. The fact that any person with access to the technology can make or add…...

3+ week, 3+ day ago   (108+ words) news.bloombergtax.com The head of CME Group Inc. told the chairman of the Commodity Futures Trading Commission that the agency needed to do more to prevent manipulation on prediction markets as the trading startups grow into multibillion-dollar businesses. The…...

3+ week, 4+ day ago   (113+ words) news.bloombergtax.com President Donald Trump pressed Congress to pass digital asset market structure legislation that is a top priority for the industry, as he hosted cryptocurrency executives at the White House on Wednesday. Trump cast the so-called Clarity Act…...

3+ week, 4+ day ago   (88+ words) news.bloombergtax.com The US accounting board is moving forward on its effort to clarify how businesses should report cryptocurrency asset transfers to make it easier for investors to compare financial filings across companies. The Financial Accounting Standards Board directed…...

3+ week, 4+ day ago   (89+ words) news.bloombergtax.com The US accounting board is moving forward on its effort to clarify how businesses should report cryptocurrency asset transfers to make it easier for investors to compare financial filings across companies. The Financial Accounting Standards Board directed…...

3+ week, 5+ day ago   (511+ words) Form 1099-DA treated every digital asset the same way in 2025, reporting gross proceeds of crypto sales to the IRS. Large crypto brokers such as Coinbase, Kraken, and Crypto.com all issued the forms for the first time. But Form 1099-DA…...