From the IRS release in June 2024, there will be more reporting requirements to digital and crypto brokers (the ones taking possession or custody of those assets, similar to financial institutions that take custody of securities (stock, bonds, etc.) and release a 1099 Brokerage at year end). As included in the guidance, there is no
In the IR-2022-45, the IRS reminds taxpayers of their reporting and potential tax obligations from working in the gig economy, making virtual currency transactions, earning foreign-source income or holding certain foreign assets. Gig economy earnings are taxable Generally, income earned from the gig economy is taxable and must be reported to the IRS. The gig
From the article below, it points out that the IRS is focusing more and more on crypto transactions. Initially, it was the disclosure requirement in the 1040 tax return to report if the taxpayer hold crypto currencies. The exact question is "At any time during 2020, did you receive, sell, send, exchange, or otherwise acquire
