Crypto Tax Update: IRS Extends Comment Period for New Regulations till Mid-November
For those in the world of cryptocurrency, the US Internal Revenue Service (IRS) has recently extended the commentary period for new tax reporting rules, originally proposed in August 2023. These ‘Gross Proceeds and Basis Reporting by Brokers and Determination of Amount Realized and Basis for Digital Asset Transactions’ rules will require brokers to adopt a new form, Form 1099-DA, to help streamline tax submissions and reduce tax evasion.
The proposed rules, which are expected to come in
Crypto Tax Update: IRS Extends Comment Period for New Regulations till Mid-November Read More »
