What to Expect When the IRS Alters Its Bitcoin Tax Policy
“In a letter last month to Rep. Tom Emmer, IRS Commissioner Charles P. Rettig said the forthcoming guidance would address these issues and others. He did not say exactly when it will come out, and neither would the IRS when contacted by CoinDesk.
It’s hard to predict when the IRS will publish the new guidance, but as the extended due date for individual returns is October 15, and for pass-through businesses it is September 15, “they may shoot to have guidance out before those extended deadlines,” said Kirk Phillips, a certified public accountant (CPA).
Below, we explain the major areas where the crypto community is looking for more clarity from the taxman.”