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⛓️ Crypto🔴 BearishImportance 7/10Actionable
Refusing new IRS crypto tax forms could cost you your exchange account
🤖AI Summary
The IRS proposes requiring crypto exchanges to file Form 1099-DA electronically, which reports digital asset trades. Exchanges may refuse service to customers who decline to provide necessary tax documentation under this new requirement.
Key Takeaways
- →New IRS proposal would mandate electronic filing of Form 1099-DA for crypto exchanges to report digital asset trades
- →Crypto exchanges could refuse to do business with customers who decline to provide required tax documentation
- →The change would affect how tax documents are delivered to crypto users, moving away from traditional mail delivery
- →A comment period is currently open for public feedback on this IRS proposal
Read Original →via CryptoSlate
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