Cryptocurrency Tax Guidance Sidelined by IRS’s Virus Relief Work

Jan. 26, 2021, 8:49 PM

The IRS’s rush to implement 2017 tax law rules and virus relief measures has gotten in the way of the agency’s work on virtual currency tax guidance, an official said.

“We’ve certainly heard of the need for guidance in the area. I don’t think that there’s any doubt that there is a need for guidance,” John Moriarty, IRS associate chief counsel, said during a Tuesday virtual conference hosted by the American Bar Association’s Tax Section. “For us, it’s been frankly a matter of prioritizing, given everything that we’ve had going on recently,” such as the 2017 law and the ...

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