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Cryptopolitan 2020-01-08 03:00:03

IRS: Crypto donations must be declared by charity organizations

The United States Internal Revenue Service now requires all non-profit organizations to accept receipts for crypto donations. IRS now requires reports on crypto donations The IRS has made changes to its FAQs related to crypto-assets and asked all charity organizations to report crypto donations on Form 990. It has also told non-profit organizations to accept receipts for digital donations. With growing crypto adoptions, regulators and other law enforcing bodies need to asset the markets and regulate use-cases for the assets. This would ensure that the crypto industry grows while keeping the safety of its users at heart. IRS has now

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