As digital assets continue to gain prominence in financial markets, the IRS has introduced new regulations that will fundamentally change how these transactions are tracked and reported.
Understanding these regulations is crucial for tax and accounting professionals, not only for compliance but also for positioning your firm as a trusted advisor in this rapidly evolving space.
What you’ll learn:
- Regulatory overview — key dates and forms involved in the new IRS reporting requirements for digital assets
- Broker reporting on Form 1099-DA — including requirements for custodial brokers, including gross proceeds and tax basis information
- Broker identification — which entities are considered brokers, including custodial trading platforms and digital asset kiosks
- Sales subject to reporting — types of digital asset transactions that firms need to report
Why download this guide?
- Ensure compliance. Stay fully compliant with the latest IRS regulations.
- Gain expertise. Position your firm as an expert in digital asset reporting.
- Streamline processes. Automate reporting and reduce errors with the right tools.
- Unlock opportunities. Explore new advisory services and revenue streams in the digital asset space.
To dig deeper, visit the original article on the Thomson Reuters blog.