IRS hands crypto holders some 2025 relief
Corporate finance leaders facing tighter mandates on crypto holdings have received a one-year reprieve from the Internal Revenue Service that will make the 2025 tax year a little easier.
The IRS announced the temporary “transitional” relief in a New Years Eve notice that centers on the thorny matter it refers to as “identification,” which involves how individual and corporate taxpayers report and record which digital units they sell and transact to their brokers, which determines the cost basis.
The changes stem from regulations finalized last summer requiring certain taxpayers to let their brokers know at or before sales which units they were selling, and if they…
