Crypto Tax: De Minimis Exception Could Complicate Things for IRS

A provision for de minimis exception in crypto taxes could lead coin holders to manipulate the system while burdening IRS further. The US Internal Revenue Service recently published guidance regarding the tax treatment of digital currencies. The document was long-awaited due to the fact that it contains instructions on how to calculate taxes on crypto transactions. However, many have also noticed that it requires US citizens to report every sale, exchange, and transaction of cryptocurrenciesRead MoreThe post Crypto Tax: De Minimis Exception Could Complicate Things for IRS appeared first on Bitcoinist.com.