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TheBlock 2020-10-07 22:34:28

IRS inspector general says that crypto exchanges need more clarity on tax reporting

Quick TakeA report from the Treasury Inspector General for Tax Administration shows crypto exchanges are taking different approaches to tax compliance.According to the report, this is because the IRS needs to issue additional clarifying guidance, including a possible move to Form 1099-B required filing for exchanges.The IRS responded in the report by saying it is currently working with the Treasury on that clarifying guidance.

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