The Internal Revenue Service (IRS) has recently announced a step back in its cryptocurrency tax rules, specifically exempting transactions over $10,000 from certain reporting obligations. This development comes as the IRS has decided to delay the enforcement of digital asset reporting rules while awaiting further regulations. The enforcement of these rules has been temporarily halted, indicating a pause in the IRS's push to tighten controls over digital asset transactions.
New IRS reporting requirements for digital assets put on ice—for now https://t.co/CuOQJnMuAM
What do you wanna know about crypto taxes this tax season?
IRS gonna make more money from crypto than anybody else in the next 10 years.
IRS Temporarily Halts Enforcement of Digital Asset Reporting https://t.co/h8nniPsoI1
IRS Delays Enforcement of Digital Asset Reporting Rules, Awaiting Regulations https://t.co/h8nniPsoI1
IRS Steps Back Crypto Tax Rules, Exempting Transactions Over $10,000 From Obligations https://t.co/F03s00EisG