The IRS strengthens encrypted tax supervision as the filing deadline approaches
The IRS is intensifying its regulatory oversight of tax compliance for crypto assets as the April 15 filing deadline approaches, with related enforcement actions continuing to strengthen.
Reports indicate that about 61% of U.S. crypto investors are still unaware of the new reporting rules for the 2025 tax year, and approximately 52% of investors are concerned about facing penalties due to reporting errors. The new rules require brokers to report digital asset trading income to the IRS for the first time using Form 1099-DA, but the cost basis still needs to be calculated by the investors themselves.
Industry insiders state that the current regulatory environment has become stricter, and investors need to maintain complete records of transactions and wallet data, and report accurately to avoid potential legal risks.
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Congratulations to Carl Moon on His Historic Ferrari Challenge Le Mans Podium Triumph
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