California CPAs Push for Crypto Accounting Clarity

The California Society of CPAs is pushing for clarity in accounting and disclosure rules regarding cryptocurrencies, citing a lack of specific guidance within U.S. GAAP, the standard accounting protocols followed in the U.S. The 54-member committee’s concern is the divergence in reporting methods utilized by companies who itemize cryptocurrencies on their financial statements and whether […]

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IRS Says It Will ‘Soon’ Issue Crypto Tax Guidance in First Since 2014

The U.S. Internal Revenue Service is working on its first tax guidance for cryptocurrency since 2014, the agency’s commissioner told a lawmaker Monday. In a reply to Rep. Tom Emmer’s request for further guidance on reporting cryptocurrencies, IRS Commissioner Charles P. Rettig outlined a non-specific plan to release in-depth guidance in the near future. “I share […]

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