DeFi Tax Uncovers Systemic Failures in Crypto Tax Reporting Leaving Millions of U.S. Taxpayers at Risk Ahead of New IRS 1099-DA Regulations
SHERIDAN, Wyo., April 23, 2025 (GLOBE NEWSWIRE) — A multi-year investigation by crypto tax experts revealed pervasive, critical flaws in the current crypto tax reporting ecosystem in a newly published report, warning of dire consequences for traders, investors, and miners as the IRS prepares to enforce new 1099-DA regulations.
Researchers at DeFi Tax conducted an extensive, multi-year effort involving data validation, platform testing, and direct engagement with regulatory bodies. Their findings point to a widespread “systemic failure” across popular crypto tax platforms, including IRS-endorsed tools, in accurately calculating gains, losses, and taxable income.
Crypto Tax Tools Falling Short
From 2021 to 2024, DeFi Tax researchers…
