A House Republican tax writer says he plans to release a draft of crypto-related tax fixes in the coming weeks.
Rep. Max Miller (R-Ohio) said at a House Ways and Means subcommittee hearing Wednesday that the draft legislation would address the reporting burden for gains under a certain dollar threshold, wash sale rules, and when newly “mined” tokens are taxed.
The comprehensive tax framework for digital assets will “provide a long overdue clarity for consumers, innovators and investors alike,” he said.
Incomplete tax guidance has led to reporting requirement difficulties for large financial institutions branching out from traditional finance into ...
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