As nearly all major digital assets on Wednesday were rallying, the cryptocurrency market was contemplating a notable climb in Litecoin and questions about which digital-asset traders are forking over money to the Internal Revenue Service.
Almost no one is paying taxes
Of the first 250,000 tax filings, less than 100 people reported owning any cryptocurrency, according to a survey from credit-monitoring company, Credit Karma. If that sounds tiny, it translates to a minuscule 0.04% of cryptotraders paying taxes to Uncle Sam, according to the company.
“While so few people have reported Bitcoin and other cryptocurrency gains or losses, we’re not surprised. Generally, Americans with more complex tax situations file later…