IRS Implements New Reporting Requirements for Cryptocurrency Transactions
Saturday, 29 June 2024, 14:30
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IRS Regulations on Crypto Transactions
The US Treasury has mandated new rules for reporting cryptocurrency transactions to the IRS by 2026.
Key Points:
- Deadline: 2026 cutoff for compliance with the updated reporting requirements.
- Impact: Measures aim to tighten oversight and transparency in crypto dealings.
- Broker Obligations: Custodial brokers now responsible for reporting user transactions to tax authorities.
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