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2024-06-29 18:02:03 +0300

Crypto Tax Cheats Likely to Get Relief as US Crackdown Hits Snag

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Bloomberg
By Allyson Versprille

The US government’s bid to collect billions of dollars in taxes is hitting a snag, with the Biden administration poised to delay when crypto brokers and exchanges must start gathering detailed information on their clients’ trading.

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The Treasury Department and the Internal Revenue Service are likely to push off a January date for the firms to begin tracking data such as customers’ capital gains and losses, according to people familiar with the matter who asked not to be named because a final decision hasn’t been made. The move would mean the tax agency waits longer to get the kind of data it gets for stocks or bonds.

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