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Published 3 years ago

Wyden-led amendment would clarify cryptocurrency reporting rules - Roll Call

Summary

Senate Finance Chair Ron Wyden, D-Ore., filed an amendment to the bipartisan infrastructure bill on Wednesday aimed at making clear that reporting rules for enforcing taxes on cryptocurrency transactions wouldn’t apply to intermediaries such as miners and firms that develop secure “wallets” for storing digital assets.Wyden joined with Patrick J.

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Senate Infrastructure Bill Would Expand Cryptocurrency Tax Reporting

The Infrastructure Investment and Jobs Act would raise up to $28 billion by mandating the reporting of digital assets for tax purposes.A provision of the 2,700-page, $1.2 trillion package — which is supported by Sen. Kyrsten Sinema (D-AZ), Sen. Mitt Romney (R-UT), and other members of the Senate from both parties — would amend the Internal Revenue Code by introducing a “return requirement for certain transfers of digital assets not otherwise sub…

3 years ago·Nashville, United States

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Wyden-led amendment would clarify cryptocurrency reporting rules - Roll Call

Senate Finance Chair Ron Wyden, D-Ore., filed an amendment to the bipartisan infrastructure bill on Wednesday aimed at making clear that reporting rules for enforcing taxes on cryptocurrency transactions wouldn’t apply to intermediaries such as miners and firms that develop secure “wallets” for storing digital assets.Wyden joined with Patrick J. Toomey of Pennsylvania, the Senate Banking panel’s top Republican and a Finance Committee member, and…

3 years ago·Washington, United States

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