The IRS Implements New Digital Asset Reporting Standard to Combat Tax Evasion
BlockBeats News, April 15th. According to financefeeds, the U.S. Internal Revenue Service (IRS) officially implemented mandatory cost basis reporting rules for digital asset brokers on April 15, 2026, applicable to centralized exchanges, custodial wallet service providers, and some digital asset custodians.
Under the new rules, relevant parties are required to submit Form 1099-DA to the IRS and taxpayers, documenting the sale and exchange of digital assets. The report states that the IRS's move aims to reduce underreporting of digital asset capital gains and encourage alignment of cryptocurrency tax reporting standards with traditional securities. For investors, it will be necessary to more accurately preserve the purchase price, time, and on-chain transaction records of each token in the future.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
US President Donald Trump says was ready to strike Houthis in Yemen, then pulled back
ZAMA gains traction as 24h trading volume surges
Global economy risks fragmentation! Australia bets on AI as a new growth engine
In a potentially more fragmented and unpredictable global economy over the next 40 years, Australia relies on the deployment and development of artificial intelligence (AI) to drive economic growth.
Europe’s aviation fuel “red alert” in the fourth quarter: Shortfall will reach 510,000 barrels/day, South Korea’s exports surge to a four-year high to urgently fill the gap
According to analysts and shipping data, Europe will face a supply gap for aviation fuel in the fourth quarter, even as it turns to distant suppliers such as South Korea. South Korea's aviation fuel exports to Europe in September are set to reach a four-year high.
Crypto prices
More
