The IRS and Treasury delayed the effective date for cryptocurrency brokers reporting client transactions until after final rules are released, the agencies said in transitional guidance on Friday.
The information reporting requirements for brokers were included in the sweeping 2021 infrastructure legislation, but there were questions about who is considered a crypto broker and what rules they need to follow.
The four-page guidance signals to the crypto industry that the IRS is thinking about rules on how and what brokers should be reporting, but it doesn’t give them and tax advisers all the answers they need.
“This announcement to ...
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