🔔Calling all #DeFi and #Web3 enthusiasts! The Chamber of Digital Commerce has some beef with the IRS's proposed Form 1099-DA for reporting digital asset transactions. 📝

They're saying it's too complex for brokers handling digital assets like cryptocurrencies. 🤯 Plus, they're worried about privacy, saying the form asks for too much info. 🕵️‍♂️

They suggest the final version should stick to the basics for tax reporting, and any extra info should be kept for specific IRS examinations only. They're also not happy about the form asking for sensitive info like transaction IDs and digital asset addresses. 🚫

The chamber also wants the IRS to release instructions for public review before finalizing the form. They're also suggesting the form should allow brokers to indicate if a digital asset is subject to a different tax rate, like NFTs that might be taxed as collectibles. 🎨

So, what do you think? Is the IRS asking too much or is this just part of the game? Let's discuss in the comments! 👇 #blockchain #crypto #IRS #taxes