Global #Internal Revenue Service

The Internal Revenue Service (IRS) has announced a new mandatory reporting system for digital asset transactions, set to take effect in 2025.

The Internal Revenue Service (IRS) has issued a temporary relief measure to address potential tax complications for cryptocurrency holders using centralized finance (CeFi) brokers in 2025.

Josh Jarrett, a Tezos blockchain staker, and his partner Jessica have filed a second lawsuit against the Internal Revenue Service (IRS) challenging the agency's treatment of cryptocurrency block rewards as income.

The U.S. Internal Revenue Service (IRS) has introduced a new draft of Form 1099-DA, aiming to streamline the reporting process for digital asset transactions. This revision marks a significant shift from earlier drafts, addressing privacy concerns and simplifying tax compliance for investors in the growing digital asset market.

On August 8, the Internal Revenue Service (IRS) unveiled a revised draft of Form 1099-DA, aimed at streamlining the process for reporting digital asset transactions. The updated form, tentatively titled “Digital Asset Proceeds From Broker Transactions,” is set to come into effect for transactions starting in tax year 2025, with reports due by April 2026.

In a bold move, ConsenSys, a leading blockchain software technology company, has publicly refused to comply with the Internal Revenue Service's (IRS) new cryptocurrency tax regulations and reporting requirements. The company argues that the regulations are overly complex, burdensome, and stifle innovation in the rapidly evolving digital asset space.