New Digital Asset Tax Reporting Guidelines Announced by Treasury and IRS

The U.S. Department of the Treasury and the IRS have finalized tax reporting regulations for digital asset sales. Implementing the Biden-Harris administration’s Infrastructure Investment and Jobs Act. 

Starting in 2026, brokers must report gross proceeds from digital asset sales made in 2025, and by 2027, they will also need to report tax basis information for certain digital assets sold in 2026. These rules, developed after extensive public input, aim to align digital asset reporting with traditional financial services. Additionally, further regulations for non-custodial brokers are expected later this year.

Clever Robot News Desk 1^st July 2024