IRS delays FIFO rule until late 2025 – Will it ease crypto tax burdens?

Quick Summary:

IRS delays FIFO crypto tax rule until 2025, offering flexibility for investors to reduce tax burdens.

Under the expanded rules, scheduled to take effect in 2027, brokers must report taxpayer details and gross proceeds from crypto transactions.

They argue that new rules requiring brokers to report all crypto transactions, including those on decentralized exchanges (DEXs), exceed the agency’s authority.

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Article Details

Author / Journalist: Olivia Stephanie

Category: Crypto

Markets: United States

Topics: Social News Ambcrypto Trading View News 1

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-02 @ 11:30:29 (6 days ago)

News Timezone: GMT +8:00

News Source URL: ambcrypto.com

Language: English

Article Length: 615 words

Reading Time: 4 minutes read

Sentences: 34 lines

Sentence Length: 19 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © AMBCrypto

News ID: 24817436

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About AMBCrypto

Main Topics: Crypto

Official Website: ambcrypto.com

Update Frequency: 12 posts per day

Year Established: 2018

Headquarters: United States

News Last Updated: 9 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #103

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