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Sure, you might have to actually pay U.S. taxes on those crypto trades. But at least it will be easier to figure out how much you owe.
A new push by Congress to require crypto brokers to report transactions to the Internal Revenue Service could create some unwelcome tax bills but could clarify rules for traders and users of Bitcoin and other digital tokens, potentially strengthening the system in the long run, people in the industry say.
The new rules â a last-minute addition to the $550 billion bipartisan infrastructure package now being considered by the U.S. Senate â would also force businesses to disclose trades of digital assets of more than $10,000. The provisions are designed to raise $28 billion.
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Emancipation Day, also known as Eighth of August, celebrates the announcement of the abolition of slavery in Tennessee and Kentucky.
Council member Wanda Smith, who sponsored an ordinance to make Eighth of August an official city holiday in February, said Emancipation Day s is essential to the community as the day freed enslaved people in the state of Tennessee, impacted the Civil War and changed the course of history for tens of millions of African-Americans.
The Emancipation Proclamation was announced on Jan. 1, 1863, but it didn t go into effect in Tennessee until August 8 when former Lt. Governor Andrew Johnson freed masses from slavery.
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