Busted: Indian Call Center Ring Duped Foreigners into Paying ‘Loan Tax’ in Bitcoin

A bitcoin fraud scheme has been unearthed in the Mumbai surburb of Mira Road. The scheme involved duping foreigners into parting with their money by informing them that they were behind in tax payments, according to the Hindustan Times. Based on the personal financial information they had obtained from their victims including loan arrears and The post Busted: Indian Call Center Ring Duped Foreigners into Paying ‘Loan Tax’ in Bitcoin appeared first on CCN

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IRS Reminds Taxpayers Cryptocurrency Income Is Taxable

U.S. taxpayers are required to report income from virtual currency transactions, the Internal Revenue Service has advised taxpayers in a notice. The agency has provided guidance on virtual currency in IRS Notice 2014-21 for taxpayers and tax preparers.   Just like transactions in any other property, virtual currency transactions are taxable. Those who fail to report The post IRS Reminds Taxpayers Cryptocurrency Income Is Taxable appeared first on CCN

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Coinbase is Sending 13,000 Customer Records Over to the IRS

The post Coinbase is Sending 13,000 Customer Records Over to the IRS appeared first on CCN Coinbase investors knew this day was coming. The top US cryptocurrency exchange for bitcoin, Bitcoin Cash, Ethereum and Litecoin on Feb. 23 notified the 13,000 affected investors by email, informing them the other shoe had dropped. Coinbase will comply with a judge’s ruling in a California federal court to share customer data of 13,000 of its users … Continued The post Coinbase is Sending 13,000 Customer Records Over to the IRS appeared first on CCN

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