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Reporting Requirements Stablecoins Internal Revenue Code (IRC)

Eversheds Sutherland (US) LLP

Entering the Digital (Asset) Age: White House Report Recommends Changes to the Taxation of Digital Assets

The President’s Working Group on Digital Asset Markets recently issued a detailed report, titled “Strengthening American Leadership in Digital Financial Technology,” recommending regulatory and legislative proposals to...more

Seward & Kissel LLP

New IRS Tax Form for Digital Asset Broker Reporting

Seward & Kissel LLP on

The IRS released a draft of a new tax form, Form 1099-DA, that brokers will use to report proceeds from certain digital asset transactions. The draft Form 1099-DA can be found on the IRS website and below. The effective date...more

BakerHostetler

Digital Asset Broker Regulations Target DeFi Platforms and Payment Processors

BakerHostetler on

The Internal Revenue Service (IRS) and the Department of the Treasury issued a 282 page notice of proposed rulemaking regarding digital assets and broker reporting on Aug. 26 (the Proposed Regulations), nearly two years after...more

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