Shehan Chandrasekera is the leading expert on cryptocurrency taxes. Today, the IRS released the highly-anticipated & controversial Decentralized Finance (DeFi) broker tax regulations. If you are ...

Toward the tail end of 2024 the IRS released the much-awaited rules that DeFi brokers and platforms ... occurring after January 1, 2025. The tax implications and reporting obligations of these ...

The IRS has rolled out new regulations for crypto tax: Rev. Proc. 2024-28 In other words, if you hold crypto, it’s time to ...

The IRS’ tax collection requirements may pose a “real risk” in pushing crypto investors to decentralized platforms that are more difficult to trace.

However, with the emergence of decentralized finance (DeFi) platforms, overseeing cryptocurrency transactions for tax purposes has become more challenging. As a result, there is an escalating need ...

Third, many of these DeFi brokers also do not have backup withholding systems that would enable these brokers to backup withhold and pay the backup withholding tax in cash. Based on these ...

The U.S. Department of the Treasury and the Internal Revenue Service (IRS) released final regulations that significantly ...

The Internal Revenue Service ended 2024 with new regulations on reporting cryptocurrency transactions, amendments for ...

For DeFi platforms that operate through smart contracts ... authority it applies to traditional brokers. Section 7805 of the tax code gives the Treasury Department the power to create regulations ...

Thornwrote: "DeFi applications with no front-end website ... Related: IRS doubles down on crypto staking taxes — Report The ...