IRS Releases New Draft Crypto Tax Forms, Seeks Public Comments

The U.S. Internal Revenue Service (IRS) has released an updated draft version of the tax form 1099-DA used by cryptocurrency brokers and investors to report gains from certain transactions, inviting the industry to participate in the discussion, and the public has 30 days to provide comments to the IRS on the proposed 1099-DA. IRS officials said the crypto 1099 form will “bring more convenience and clarity” to those paying U.S. crypto taxes.