The Institute of Internal Auditors recommended all cryptocurrency exchanges operating in the U.S. should possess an independent internal audit function.

Instead of hiding gains, traders avoid tax by declaring losses using "wash trades" that are barred in regulated securities markets.

Dumping bad clients; another crypto challenge; no IRS notice; and other highlights from our favorite tax bloggers. 

The case revolves around whether the service had the right to demand an investor's account info without letting him know.

Crypto can be subject to major price volatility that is inconsistent with cash or a cash-equivalent treatment.

An Ohio man photographed lounging in a bathtub full of dollar bills stole 713 Bitcoin from a computer device seized by the IRS in a case against his older brother.

The statute's start; chat's all, folks; costs of fraud; and other highlights from our favorite tax bloggers.

The service has slightly revised its 2014 guidance on the treatment of virtual currency to reflect the fact that some countries now accept Bitcoin as legal tender.

The institute is asking for more guidance on how to help taxpayers compute their losses on digital assets such as cryptocurrency.

Inspectors with the board listed their top priorities for inspections this year in a new staff report.