IRS inspector general says that crypto exchanges need more clarity on tax reporting

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Quick Take

  • A report from the Treasury Inspector General for Tax Administration shows crypto exchanges are taking different approaches to tax compliance.
  • According to the report, this is because the IRS needs to issue additional clarifying guidance, including a possible move to Form 1099-B required filing for exchanges.
  • The IRS responded in the report by saying it is currently working with the Treasury on that clarifying guidance.

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IRS inspector general says that crypto exchanges need more clarity on tax reporting written by Aislinn Keely @ https://www.theblockcrypto.com/daily/80139/irs-ig-tax-reporting-crypto-exhanges?utm_source=rss&utm_medium=rss October 8, 2020 Aislinn Keely

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