IRS

Summary Supreme Court Upholds IRS Access: The U.S. Supreme Court has validated the Internal Revenue Service's methods for obtaining cryptocurrency transaction records from exchanges…

Summary Strategic Ethereum Adoption & Market Impact: SharpLink Gaming's decision to move its corporate treasury to Ethereum (ETH) triggered a 400% surge in its stock price,…

Summary New Leadership for IRS Crypto Unit: Trish Turner, an experienced IRS official, has been appointed to lead the agency's digital assets division, succeeding Sulolit Mukherjee…

Summary President Trump signed a resolution, marking the first crypto bill to become US law, effectively overturning a Biden-era IRS rule that would have imposed broker-like tax…

Summary President Trump signed the first-ever crypto-related bill into US law, overturning a Biden-era IRS rule targeting decentralized finance (DeFi) platforms. The repealed…

In 2027, P2P reporting will commence under IRS Crypto Reporting, with an emphasis on aggregate transaction amounts. IRS Crypto Reporting will commence in 2027 for peer-to-peer (P2P)…

Buddy Carter's Fair Tax Act aims to supplant federal income and payroll taxes with a 23% national consumption tax and abolish the IRS. Filed as H.R. 25, the proposal would eliminate the…

IRS crypto tax regulations will be extended for an additional year, until 2026, to allow crypto exchanges to select cost-basis methods for calculating gains and losses. In accordance with…

In a "final charge on its way out of power," the U.S. government agency finalized the rule, which mandates identification for DeFi front ends. The Internal Revenue Service (IRS), the tax…

The IRS has introduced Form 1099-DA specifically for cryptocurrency, which will increase openness.Brokers are required to file Form 1099-DA beginning in January 2025. The introduction of…