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Covid Work Keeps Marijuana, Crypto Guidance on IRS’ Back Burner

Jan. 29, 2021, 5:22 PM

The rush to issue Covid-19 relief guidance has already taken up a lot of time for the IRS, forcing it to put other guidance projects on the back burner for the near future.

Projects the agency hopes to tackle but can’t yet include: guidance related to a limit on tax breaks for marijuana businesses, and proposed rules for virtual currency reporting by third-party brokers, officials said this week at a virtual conference hosted by the American Bar Association tax section.

“I don’t think that there’s any doubt that there is a need for guidance,” John Moriarty, IRS...

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