Questions tagged [reported]

Raffaele Thu Nov 07 2024 | 5 answers 1105

I'm wondering if purchasing silver needs to be reported to the IRS. I'm considering buying some silver as an investment, but I'm not sure about the tax implications and whether I need to declare it to the authorities.

EnchantedMoon Mon Oct 21 2024 | 7 answers 1631

I'm wondering if the sales of coins, whether they are reported to the IRS. I need to know if there's a requirement to declare such transactions for tax purposes.

KatanaBlade Mon Oct 07 2024 | 7 answers 1240

Hello there, I'm curious about something related to virtual currency and taxes. I've been hearing a lot about people investing in cryptocurrencies like Bitcoin and Ethereum, and I'm wondering if these transactions are required to be reported to the IRS for tax purposes? I'm trying to make sure I'm staying compliant with all the tax laws and regulations surrounding this new and exciting field. Can you help me understand how virtual currency is treated by the IRS and what my responsibilities are as an investor?

Tommaso Fri Sep 06 2024 | 5 answers 1337

Are wire transfers typically reported to the IRS? If so, what kind of information is typically included in these reports? Are there any specific thresholds or conditions that must be met before a wire transfer is reported? Additionally, how does the IRS use this information, and what are the potential consequences for failing to report wire transfers as required?

DondaejiDelightful Thu Sep 05 2024 | 7 answers 930

Good day, I've been hearing a lot about Know Your Customer (KYC) requirements in the cryptocurrency space, and I'm wondering if these procedures are reported to the Internal Revenue Service (IRS) in the United States. Specifically, do cryptocurrency exchanges and platforms that collect KYC information from their users need to share this data with the IRS for tax purposes? I'm trying to understand the extent of data sharing and reporting that takes place between these entities and the tax authorities. Additionally, are there any regulations or guidelines that govern how and when KYC data should be disclosed to the IRS? Thank you for your time and attention to this matter.