KPMG report: Proposed regulations expand tax information reporting on digital asset transactions
Initial observations on significant provisions of new proposed regulations on digital asset tax information reporting requirements
Proposed regulations expand tax information reporting on digital asset transactions
The U.S. Treasury and IRS on August 25, 2023, released long-awaited proposed regulations on digital asset tax information reporting requirements. Read TaxNewsFlash
The proposed regulations provide guidance on statutory amendments to broker reporting rules enacted as part of the Infrastructure Investment and Jobs Act of 2021 and are issued principally under section 6045. Regulations under other provisions of the Code, however, are also amended in coordination with these rules, including provisions under sections 6050W, 1001 and 1012.
Read an August 2023 report [PDF 268 KB] prepared by KPMG LLP for initial observations on the significant provisions of these new proposed regulations.
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