IRS: Only 800 People Reported Bitcoin Earnings Per Year
Taxing times continue at Coinbase as the Internal Revenue Service (IRS) reveals only 800 people report Bitcoin gains on returns annually. IRS: 800 People Per Year Reporting and Falling. The exchange and wallet provider is currently facing enforced submission of its transaction records after the IRS went to court earlier this month. In data released as part of the lawsuit, the authority reveals that in 2015 only 802 people reported Bitcoin gains on tax form 8949, and that the number had been decreasing year on year. “The IRS searched the MTRDB for Form 8949 data for tax years 2013 through....
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JPMorgan is not a Bitcoin indicator. But the American banking giant’s third-quarter earnings report is full of anecdotes that may influence the cryptocurrency’s future outlook – in one way or another. Background The JPMorgan earnings showed an increase in profits by about 4 percent from a year ago. The WSJ reported the outcome as “surprise,” stating that the bank’s return to pre-pandemic levels baffled earlier Wall Street estimations. JPMorgan somewhat represents the health of the […]
COIN exceeded earnings estimates but analysts caution that blanket crypto-sector regulation will “stifle innovation” and possibly cast a shadow on Coinbase's growth. Coinbase Global (NASDAQ: COIN) rebounded during the early trading hours on Aug.11 after it beat Wall Street forecasts for sales and revenues in the second quarter.The cost to purchase one COIN share surged 4.7% to $282.34 at the New York opening bell. Later, bids for the COIN rose to as high as $294 before pulling back to its current price at $279.72.Coinbase stock daily chart. Source: TradingViewStrong Q2 earnings for....
This year, the Sky Mavis-crafted blockchain game Axie Infinity has seen incredible growth and has recently surpassed $3 billion in all-time sales. However, researchers at Naavik explain in a recent study that Axie Infinity players called ‘scholars’ are seeing daily earnings drop, and many have seen earnings dip below the minimum wage line of countries like the Philippines.
Naavik Researchers Take a Deep Dive Into Axie Infinity — ‘Scholar’ Earnings Have Been Dropping Since August
The Ethereum-based blockchain game Axie Infinity is one of the....
DigitalBTC, the Australia-based miner, has reported a first-year net loss of $6.77 million on annual mining revenue of $6.4 million, according to zdnet.com. The company nonetheless claims to be very bullish on bitcoin. The company, which trades as Digital CC Limited on the Australian Securities Exchange (ASX), reported negative earnings before interest, tax, depreciation, and amortization (EBITDA) of $3.16 million for the full year ending June 2015. Second Quarter Brought $1.2 Million Loss. In this year's second quarterly report in late July, DigitalBTC reported $1.2 million in losses.....
AMC Entertainment CEO Adam Aron shared on Monday’s quarterly earnings call that the company is setting up IT logistics to support Bitcoin payments. Crypto is anticipated to be a supported method of payments at AMC theaters before the end of the year. Prepare The Popcorn Aron noted on the earnings call that the chain would […]