{"id":156566,"date":"2023-01-29T05:22:18","date_gmt":"2023-01-29T11:22:18","guid":{"rendered":"https:\/\/lifeboat.com\/blog\/2023\/01\/us-irs-wants-everyone-to-declare-if-they-engage-in-crypto"},"modified":"2023-01-29T05:22:18","modified_gmt":"2023-01-29T11:22:18","slug":"us-irs-wants-everyone-to-declare-if-they-engage-in-crypto","status":"publish","type":"post","link":"https:\/\/lifeboat.com\/blog\/2023\/01\/us-irs-wants-everyone-to-declare-if-they-engage-in-crypto","title":{"rendered":"US IRS wants everyone to declare if they engage in crypto"},"content":{"rendered":"<p><a class=\"aligncenter blog-photo\" href=\"https:\/\/lifeboat.com\/blog.images\/us-irs-wants-everyone-to-declare-if-they-engage-in-crypto2.jpg\"><\/a><\/p>\n<p>The Internal Revenue Service (IRS), responsible for enforcing federal tax laws in the United States, recently published a list of reporting obligations for the general public regarding cryptos as the time for filing the 2022 federal income tax return draws near.<\/p>\n<p>Since \u201cvirtual money\u201d is a term that is no longer used for income tax purposes as of 2021, the <a target=\"_blank\" href=\"https:\/\/crypto.news\/u-s-irs-obtains-court-summons-to-reign-in-crypto-tax-evaders\/\" rel=\"noreferrer noopener\">IRS changed<\/a> the phrase to \u201cdigital assets.\u201d <a target=\"_blank\" href=\"https:\/\/crypto.news\/us-tax-law-firm-wants-to-help-crypto-users\/\" rel=\"noreferrer noopener\">All US citizens<\/a> must answer all crypto-related questions, irrespective of their activity.<\/p>\n<p>The <a target=\"_blank\" href=\"https:\/\/www.irs.gov\/newsroom\/irs-updates-to-question-on-digital-assets-taxpayers-should-continue-to-report-all-digital-asset-income\" rel=\"noreferrer noopener\">question<\/a> about digital asset income appears on three different tax forms, specifically in the <a target=\"_blank\" href=\"https:\/\/www.irs.gov\/forms-pubs\/about-form-1040\" rel=\"noreferrer noopener\">1040 Individual Income Tax Return,<\/a> the 1040-SR US Tax Return for Seniors, and the <a target=\"_blank\" href=\"https:\/\/www.irs.gov\/forms-pubs\/about-form-1040-nr\" rel=\"noreferrer noopener\">1040-NR US Nonresident Alien Income Tax Return<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Internal Revenue Service (IRS), responsible for enforcing federal tax laws in the United States, recently published a list of reporting obligations for the general public regarding cryptos as the time for filing the 2022 federal income tax return draws near. Since \u201cvirtual money\u201d is a term that is no longer used for income tax [\u2026]<\/p>\n","protected":false},"author":609,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-156566","post","type-post","status-publish","format-standard","hentry","category-futurism"],"_links":{"self":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/156566","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/users\/609"}],"replies":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/comments?post=156566"}],"version-history":[{"count":0,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/156566\/revisions"}],"wp:attachment":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/media?parent=156566"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/categories?post=156566"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/tags?post=156566"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}