IRS Extends Comment Period on Proposed Crypto Tax Rules to Late 2023
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IRS extends comment period for proposed crypto tax rules to November 13, 2023. Rules would require brokers to report digital asset transactions starting 2025.
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Proposed rules require new Form 1099-DA to simplify tax reporting and reduce tax evasion.
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Rules proposed to take effect in 2026, impacting 2025 transactions.
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Crypto community responds negatively, calling rules confusing and disadvantaging digital assets.
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U.S. Senators urge Treasury and IRS to implement crypto tax rules swiftly, despite 2-year delay.