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Are you going with the current market trends, or are you unaware of the cryptocurrency surfacing the financial pool? Well, cryptocurrency is a digital currency or, as the IRS quotes, “A Digital Representation of Value.” The cryptocurrency has been in existence for over a decade now, but the audience is getting familiar with it now. Cryptocurrency got popular amongst citizens in the past few years and is now changing the financial culture all over. The Working of Cryptocurrency Tax: Someone who owns cryptocurrency in any amount is known to have a capital asset eligible for capital gains tax. For better or worse, having cryptocurrency on your name means you are liable to pay taxes on every profit gained from the crypto. Just like traditional forms of investment like funds, and stocks, cryptocurrency also is eligible for the standard tax pay on the profit. Added to the notion, the tax payable on the cryptocurrency depends on the time it is kept for. If you have kept the cryptocurrency fo

If you ever face a tax controversy between yourself and the IRS, you may feel as if you are at a considerable disadvantage. It is understandable since the IRS has a massive team at its disposal to pursue a case against you. But, you need not face this issue entirely alone. Hiring a Tax litigation lawyer can give you the expertise you need and give you a fighting chance; you may even win your case. To protect your rights and triumph over such cases, you can use the expert help of professionals from Law firms in Maryland . But before discussing any further, you need to know and understand what tax litigation and an audit are.    Tax Law & Audits Explained  Tax law is an area of legal studies in which the public or the authorities like the federal, state, or municipal government use a set of rules and regulations to assess and collect all the taxes in a legal context. Tax law is also part of public law; it covers applying the existing tax laws on an individual, entity, and corporation