The IRS plans to release a new reporting form and instructions soon for crypto brokers to disclose client transactions as the agency braces for an estimated influx of 8 billion related filings, an official said Wednesday.
US-based cryptocurrency brokers will have to disclose to the IRS detailed information on their clients’ transactions under a requirement created in a 2021 infrastructure law. Proposed rules released in August further detailed how brokers can comply and extended when the reporting requirements begin, starting in 2026.
The IRS is expecting 8 billion returns because it is by transaction, Julie Foerster, project director of the …
