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More Crypto Tax Guidance Coming Soon, IRS Says

May 20, 2019, 9:57 PM

IRS Commissioner Charles Rettig assured lawmakers the agency will soon issue more guidance to help individuals determine the tax consequences of their cryptocurrency transactions.

“I share your belief that taxpayers deserve clarity on basic issues related to the taxation of virtual currency transactions and have made it a priority of the IRS to issue guidance,” Rettig said in a May 16 letter released May 20 by Rep. Tom Emmer (R-Minn.).

  • Emmer, a co-chair of the Congressional Blockchain Caucus, was one of the lawmakers behind an April 11 letter to the Internal Revenue Service requesting more guidance.
  • In...
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