Most Americans evade crypto taxation

17th of April is the last day of taxation for the American investors. However, currently, only a small part of crypto holders submitted information about their assets. For the 13th of April, 2018, only 100 out of the 250,000 filed tax applications contain information on crypto-currencies.

American lawyers state taxpayers’ incorrect making of a tax return concerning cryptos as the main reason for such results. One more possible reason probably lies in their wish to wait until the last moment hopping that a new system of crypto taxation will set aside their income.

In February 2018 Coinbase submitted personal data of 13 000 accounts to the US Internal Revenue Service. This innovation concerned only American taxpayers. Initially, the tax service expected to receive data of about 500 thousand users.

Image courtesy of marketwatch.com