Posted 10/12/2023, 9:00:00 PM
Coinbase Opposes IRS Crypto Tax Reporting Rules, Calling Them Burdensome and a Threat to Privacy
- Coinbase argues IRS crypto tax proposal is overly burdensome and threatens privacy
- Proposal would require crypto brokers to track customer transactions for tax purposes
- Coinbase says rules are incomprehensible and will degrade taxpayer services
- IRS estimates crypto noncompliance is contributing to tax gap
- Democratic senators urge IRS to impose rules swiftly to collect billions in lost revenue
