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US EXPATS AND THE TAXATION OF CRYPTOCURRENCY

We give an overview of how cryptocurrency works and a summary of the guidance that the IRS has thus far published to help taxpayers properly report and pay tax on their crypto transactions.

CRYPTOCURRENCY AND FBAR REPORTING

FinCEN, which is the bureau of the US Department of the Treasury charged with handling FBARS, has announced that it intends to amend its Treasury regulations to make foreign cryptocurrency accounts reportable on the FBAR.

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