US Tax Authority Prioritizes Issuing Guidance on Cryptocurrencies
Cointelegraph
Published May 20, 2019 05:40PM ET
US Tax Authority Prioritizes Issuing Guidance on Cryptocurrencies
The United States Internal Revenue Service (IRS) has prioritized issuing tax guidance on cryptocurrencies, according to a May 16 letter.
The letter from the IRS comes in response to a request from 21 representatives in Congress, including Rep. Tom Emmer, to provide clarity on reporting taxes on cryptocurrency holdings. In the letter to the tax authority, the representatives then claimed that there is still “substantial ambiguity on a number of important questions about the federal taxation” of the emerging type of asset.
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Written By: Cointelegraph
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