A group of U.S. lawmakers has called on the nation's Internal Revenue Service (IRS) to release comprehensive guidance for taxpayers earning gains on cryptocurrency investments or transactions.
In an open letter sent to acting IRS commissioner David Kautter, representatives Kevin Brady, Lynn Jenkins, David Schweikert, Darin LaHood and Brad Wenstrup write that the agency has had "more than adequate" time to develop clear rules on how cryptocurrency-related profits would be taxed.
Rather than release such guidance, the IRS has instead focused on enforcement actions around preliminary rules released in 2014, the letter claims, citing examples such as the agency's push to collect earnings data on customers from crypto exchange Coinbase and referencing a previous letter sent to the IRS in 2017.
https://www.coindesk.com/us-lawmakers-strongly-urge-irs-to-update-crypto-tax-guidance/
Topic: US Lawmakers 'Strongly Urge' IRS to Update Crypto Tax Guidance (Read 83 times)
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