IRS, Treasury Announce New Crypto Tax Reporting Rule for Brokers

The new rules are part of an effort to boost tax compliance among high income individuals, said the IRS chief.

The Treasury Department in Washington on March 25, 2024. Madalina Vasiliu/The Epoch Times

The U.S. Department of the Treasury and the Internal Revenue Service (IRS) have published a final rule that requires cryptocurrency brokers to report details of digital asset transactions to the tax agency.

“The final regulations announced today will require brokers to report gross proceeds on the sale of digital assets beginning in 2026 for all sales in 2025,” the Treasury said in a June 28 statement.