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New infrastructure bill cracks down on crypto tax evasion
premium.bitcoinpositive.org � news � refresher-infrastructure-and-investment-j. The legislation includes tax reporting provisions that apply to digital assets like cryptocurrency and nonfungible tokens, or NFTs. This bipartisan bill will underscore that the reporting requirements in the IIJA do not apply to crypto validators and other actors not.

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The collection of personal identifying information will be an industry shift for DeFi, as will the requirement to file Forms for taxable events. Originally slated to begin in , the IRS delayed the reporting rule late in December , but emphasized that investors still need to report crypto activity now, regardless of whether they received a tax form. Update August 25, This article was originally published on November 3,