Allyson Versprille

The president is directing government agencies to focus more on the fast-growing crypto market, from researching a U.S. digital dollar to combating illicit finance.

Crypto miners and stakers will be exempt from rules requiring digital-asset brokers to turn over information on their clients’ transactions to the IRS.

There may be a silver lining for crypto investors selling at huge losses during the recent market turmoil.

IRS investigators say the frauds including money laundering, market manipulation and tax evasion — and even celebrities could get caught up in the agency’s probes.

It’s one of the hottest corners of crypto — and now the U.S. government wants its share of the profits.

The Biden administration is poised to specify which cryptocurrency firms will be forced to report reams of customer data to the Internal Revenue Service, said people familiar with the matter.

The service seized $3.5 billion worth of cryptocurrencies during fiscal 2021, according to an IRS criminal investigation annual report

Cryptocurrency investors would have little time to plan against possible tax increases under legislation advancing in Congress.

The president’s tax agenda, crafted by experts who worked on the proposals for years and wrote books about their ideas, is getting a wholesale revamp as Democrats battle to find a program their caucus can unite behind.

Financial institutions aim to stop a measure that would require banks to hand over some account information to the IRS.

The measure could be used to pay for a modification of the cap on the federal deduction of state and local taxes.

The biggest set of U.S. tax increases in a generation took a major step forward on Wednesday.

Senators Ron Wyden and Pat Toomey are drafting a proposal to overhaul a cryptocurrency provision in the $550 billion bipartisan infrastructure bill that traders and investors have criticized as being overly broad and impractical.

A Senate proposal to ramp up IRS surveillance over cryptocurrency transactions claims it will $28 billion in tax revenue.

The administration is aiming at trusts — particularly dynasty trusts, vehicles that wealthy families can use to benefit multiple generations of descendants.

Clients could end up having to pay back the money next filing season.

The Biden administration has proposed requiring the collection of data on foreign cryptocurrency investors active in the U.S., aiming to bolster international cooperation to help in a broader crackdown on tax evasion.

The dilemma represents another challenge with the special legislative process known as budget reconciliation.

The president's plan for increased tax audits of the wealthy and corporations is a major funding source for his economic-investment proposals.

The White House plans to propose almost doubling the capital gains tax rate for those earning $1 million or more, to 39.6 percent.