What does the new IRS regulation on crypto payroll entail?
The IRS has a new rule that comes into play in 2025: taxpayers are now required to track the cost basis of cryptocurrency on a per-wallet basis. This essentially means that businesses can’t just lump together historical cost-basis clusters. Instead, each wallet will need individual tracking. This is a pretty significant shift in how accounting for crypto payroll is done.
What challenges will companies face in light of this IRS change?
Companies will face a lot of challenges. The older aggregate methods won’t cut it anymore, making it a problem for firms that have been relying on those methods. They’ll need to rethink their payroll systems, and that won’t be a small task. With this change, companies will have to invest in new…
