🚀 Important news from the world of cryptocurrency! 🚀
📈 The IRS has simplified reporting requirements for cryptocurrency brokers and taxpayers. The new version of Form 1099-DA no longer requires wallet addresses, transaction IDs, and the exact time of transactions. Now it is enough to indicate only the date.
📅 These changes will take effect in the 2025 tax year, and reports will need to be filed in April 2026. The IRS also invites the public to leave comments on the draft form within 30 days.
👍 The crypto community welcomes these changes, calling them a step in the right direction. Attorney Drew Hinkes of K&L Gates noted that the updated form requires significantly less data for reporting.
💬 What do you think about these changes? Share your opinion in the comments!