Sep 19, 2018

Congress members ask IRS to clarify cryptocurrency tax rules

Illustration: Lazaro Gamio / Axios

Members of the Senate Finance Committee and the House Ways and Means Committee sent a letter to the IRS on Wednesday requesting that it clarify the rules on cryptocurrency taxes and why it issued broad summons for Coinbase user data in 2016.

Why it matters: The IRS hasn't issued any guidance on the topic since a 2014 memo declaring cryptocurrencies property for the purpose of taxes. However, a number of issues have cropped up since then — like Bitcoin forks and using cryptocurrencies for purchases that continue to make paying taxes confusing.

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Updated 7 mins ago - Politics & Policy

U.S. enters 6th day of nationwide protests over George Floyd's killing

A protest in Philadelphia on May 31. Photo: Mark Makela/Getty Images

Local news footage captured a tanker truck appearing to drive toward protesters at a peaceful demonstration in Minneapolis, as demonstrators quickly got out of the way of the incoming vehicle on Sunday evening.

The big picture: Protests have continued across the country for six days, as demonstrators call for justice in response to the deaths of George Floyd and other other black Americans who have died in police custody or who have been killed in racist attacks.

Updated 15 mins ago - Politics & Policy

Tanker truck appears to plow into Minneapolis protesters

A tanker truck appears to have driven toward thousands of protesters during a demonstration in Minneapolis, video from the scene shows.

Details: Minnesota Department of Public Safety tweeted, "Very disturbing actions by a truck driver on I-35W, inciting a crowd of peaceful demonstrators. The truck driver was injured & taken to a hospital with non-life threatening injuries. He is under arrest. It doesn’t appear any protesters were hit by the truck."

Inside Trump's antifa tweet

President Trump at Cape Canaveral on May 30. Photo: Paul Hennessy/SOPA Images/LightRocket via Getty Images

As recently as Saturday night, senior administration officials told me that the designation of a violent cohort of far-left activists, antifa, as a terrorist organization was not being seriously discussed at the White House. But that was Saturday.

Behind the scenes: The situation changed dramatically a few hours later, after prominent conservative allies of the president, such as his friend media commentator Dan Bongino, publicly urged a tough response against people associated with antifa (short for "anti-fascist").