The IRS is stepping up tax oversight of cryptocurrency as the filing deadline approaches
Svmuu News: The Internal Revenue Service (IRS) is stepping up its oversight of tax compliance for crypto assets, and enforcement actions continue to intensify as the April 15 filing deadline approaches. Reports indicate that approximately 61% of U.S. crypto investors are still unaware of the new filing rules for the 2025 tax year, and about 52% of investors are concerned about facing penalties due to filing errors. The new regulations require brokers to report digital asset trading income to the IRS via Form 1099-DA for the first time, but investors must still calculate their own cost basis. Industry insiders note that the current regulatory environment has become stricter, and investors need to keep complete records of their transactions and wallet data and file accurately to avoid potential legal risks. (DL News)
Source:Odaily · Source Link
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