Revenue Procedure
IRS establishes procedures for electronic furnishing of payee statements related to digital asset sales by brokers.
→ View in IRS Internal Revenue BulletinWhat It Does
This revenue procedure provides guidance on how brokers can electronically furnish payee statements to customers regarding digital asset transactions. The procedure addresses the electronic delivery requirements for statements related to digital asset sales reportable by brokers.
Who Is Affected
Brokers dealing in digital assets, cryptocurrency exchanges, and taxpayers who receive digital asset-related payee statements from brokers.
Key Provisions
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Practical Implications
Practitioners should review this procedure to understand new electronic delivery options for digital asset reporting. Broker clients may need to update their statement delivery systems to comply with these new procedures.
Supersedes / Modifies
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Related Code Sections
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This brief was generated by AI informed by the tax practice of
Ted Broomfield, Attorney/CPA
and has not been reviewed for accuracy. It is provided for informational
purposes only and does not constitute tax or legal advice.