Home » IRS reminds taxpayers of crypto income reporting ahead of 2022 filing

IRS reminds taxpayers of crypto income reporting ahead of 2022 filing

by WorldFinance
0 comment 1 minutes read
IRS reminds taxpayers of crypto income reporting ahead of 2022 filing

With the deadline approaching for filing the 2022 federal income tax return, the Internal Revenue Service (IRS) — an enforcement agency of United States federal tax laws — released a list of reporting requirements for the general public dealing with cryptocurrencies.

Until 2021, the IRS used the term “virtual currencies” in income tax-related reporting forms, which have been updated to “digital assets.” All U.S. citizens must answer questions about cryptocurrencies “regardless of whether they engaged in any transactions involving digital assets.”

IRS checklist of declarations related to cryptocurrency. Source: irs.gov
Revised 2022 instructions for Form 1040 (and 1040-SR). Source: irs.gov

Continue Reading on Coin Telegraph

See also  DAI Holders Spark DeFi Transparency And Compliance Debate Amidst $21.6 Million Annual Interest Potential

You may also like

Our Company

Critical insights and analysis on Finance in the world

Newsletter

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

Laest News

@2023 – All Right Reserved. Designed and Developed by WorldFin.news