IRS Says Charity Crypto Donations Must be Declared

Recently, the US government’s revenue service, the IRS made a few changes to its set of FAQs on crypto assets. Charity organizations that are generally exempted from tax collections have to report virtual currency based donations on Form 990, the agency said on December 26. Apart from the aforementioned amendment, there’s something else. In certain situations, non-profit organizations are also required to accept a receipt for crypto donations, the IRS clarified. Accepting Crypto Donations? ReportRead More The post appeared first on Bitcoinist.com.