U.S. crypto tax reporting arrives; Here’s how much you’ll pay
The Treasury Department announced on June 28 that starting in 2026, most crypto currency brokers will be required to disclose user transaction proceeds to the Internal Revenue Service (IRS). This new report ing requirement aims to curb tax evasion within the crypto currency market. Specifically, crypto exchanges and payment processors, such as Coinbase (NASDAQ: COIN), will need to report user sales and trades to the IRS. The rule does not introduce a new tax but reinforces existing tax obligations for cryptocurrency investors, similar to those of traditional financial services. Picks for you 3 crypto currencies to turn $10 into $1,000 for end of 2024 17 mins ago AI predicts Gold price for July 31, 2024 ...