US lawmakers urge IRS to update crypto tax guidelines

posted 4 months ago
Lawmakers from the House of Representatives sent a letter to the IRS on April 11th, urging Commissioner Charles Rettig to update its five-year-old guidelines on cryptocurrency-related activities.

Led by Representative Tom Emmer from Minnesota, the group of 21 lawmakers are requesting new guidance, given that the government agency’s official document on how tax principles apply to crypto trades and transactions has not included a single frequently asked question since 2014.
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