The Internal Revenue Service (IRS) has released its final regulations outlining its new crypto brokerage rules for tax compliance.
The United States Internal Revenue Service revealed its final draft of the new crypto broker reporting requirements on June 28, and clarified the scope of industry participants affected by the new rule changes., decentralized exchanges and self-custody wallets will not be subject to the new reporting rules.
"We need to make sure digital assets are not used to hide taxable income, and these final regulations will improve detection of noncompliance in the high-risk space of digital assets. Our research and experience demonstrate that third-party reporting improves compliance."
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Report: Big 12 Posted Record 2023-24 Revenue, Cincinnati Gets First Cut of Revenue PiThe Bearcats will get a full payment of normal split of annual Big 12 revenue in 2026.
Read more »
IRS Update Impacts Tax Returns for People in Two StatesThe Internal Revenue Service has extended the filing deadline for two states affected by weather disruptions.
Read more »
FTX reaches $200M settlement with IRS on tax billFTX reached a $200 million agreement with its largest creditor, the United States Internal Revenue Service (IRS), on June 3.
Read more »
The IRS wants to end another major tax loophole for the wealthy and raise $50 billionThe Internal Revenue Service plans to end another major tax loophole that could raise more than $50 billion in revenue over the next decade
Read more »
The IRS is cracking down on a tax loophole for the rich. The effort could raise $50 billion.The Internal Revenue Service plans to end another major tax loophole that could raise more than $50 billion in revenue over the next decade.
Read more »
IRS unveils plan to end another major tax loophole for the wealthy and raise $50 billion in the processThe Internal Revenue Service plans to end another major tax loophole that could raise more than $50 billion in revenue over the next decade.
Read more »