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Crypto Tax

All articles tagged with #crypto tax

politics2 months ago

GOP Struggles to Lock Votes as Immigration Bill and Next Reconciliation Loom

House Republicans are grappling with whether they can pass a long-awaited immigration-enforcement bill while laying the groundwork for a larger, more partisan Reconciliation 3.0—an effort that hinges on reforms and intra-party dynamics amid ongoing primaries. Leadership says the process remains fluid as attendance and votes are uncertain. Separately, they are weighing a path to renew the Section 702 surveillance program and a crypto-tax framework in Ways and Means, though bipartisan support is far from guaranteed.

cryptocurrency2 years ago

U.S. Crypto Tax Proposal: Miners Spared, Exchanges Targeted

The U.S. Treasury Department has released a proposed rule outlining tax reporting obligations for the crypto industry. The rule would require centralized crypto exchanges, payment processors, some hosted wallet providers, and some decentralized exchanges to report customer information. Miners and certain decentralized finance platforms would be exempt from the reporting requirements. The proposal also introduces a new tax form, the 1099-DA, for brokers to file. The industry will have until October 30 to provide public comments, and final rules are expected to be approved in 2025.