Tax professionals face increasing complexity today. The final broker reporting regulations for digital assets, published in the Federal Register on July 9, 2024, outline new requirements under the US tax law wherein brokers are required to report cash sales of customers’ securities, including digital assets such as cryptocurrencies. The regulations also provide guidance on needed efficiencies and new asset class definitions.
Brokers can face substantial penalties if they fail to accurately and promptly report sales of digital assets. Explore our whitepapers for insights into key aspects of these regulations, then connect with our experts for the most trusted ways to mitigate the risk.