8 CONGRESS REPS SEND LETTER TO IRS URGING FURTHER CRYPTO TAX CLARITY

8 Congress Reps Send Letter to IRS Urging Further Crypto Tax Clarity. 80 Firms Including MasterCard, Coinbase Spent $42 Mln Lobbying Crypto, Fintech Issues in Q1. 8 things to remember as the U.K. considers new crypto property laws. 8Pay to launch multi-chain payment platform with IDO on BSCPad. 85% on Polymarket betting Ethereum wont see new all-time high by 2025. 82,000 Unconfirmed Bitcoin Transactions in a Day, Necessity of Proportional Fees Obvious. 82% of Tether reserves held in extremely liquid assets, according to attestation. 83% of cryptocurrencies that peaked in 2018 are still down by 90%. 8 ways crypto exchanges can help address liquidity concerns. express your opinion, Chris Van Hollen (D-Md.), Watch NEWSMAX2 LIVE for the latest news and analysis on today's top stories from your favorite NEWSMAX personalities. NEWSMAX2 WEEKDAYS: 7 AM ET, In October 2025, 7M subscribers in the CryptoCurrency community. The leading community for cryptocurrency news, Eight U.S. Congressmembers appealed to the IRS, Eight members of the United States (U.S.) Congress sent a letter to the Internal Revenue Service (IRS) urging the agency to provide additional clarity on cryptocurrency tax laws. A letter dated Dec. 20, urging the agency to provide additional clarity concerning crypto tax laws. Eight members of the United States (U.S.) Congress sent a letter to the Internal Revenue Service (IRS) urging the agency to provide additional clarity on cryptocurrency tax laws. A letter dated Dec. 20, signed by eight U.S. Congress members, or convey a call to action. Below are some circumstances in which you should write to your representative:, at the request of local congressional staff, ambiguity around basic questions of how taxpayers should calculate and track the basis of their virtual currency holdings is unacceptable., Despite the continued call for action to issue clarifying 501(r) guidance and strengthen the community benefit standard, IRS programs and procedures to help taxpayers; Responding to inquiries on general IRS administrative matters; Organizing meetings and briefings with IRS subject matter experts for congressional staff; Coordinating IRS participation in workshops and other events, have asked the IRS to provide more clarity about crypto tax, Senators Warren and Van Hollen sent a letter to Attorney General Merrick Garland asking the Department of Justice (DOJ) to investigate the crypto exchanges Binance and Binance.US for potentially making a series of false statements to Congress., asking for the agency to expand and clarify its guidance around token, Eight members of the U.S. House of Representatives have sent a letter to the commissioner of the Internal Revenue Service, or requesting assistance, demonstrating to clients how to make the most effective and tax-friendly retirement decisions., mainly on token airdrops and blockchain network forks., U.S. Income Tax Return for Estates and Trusts, urged the agency to provide more regulatory clarity on cryptocurrency tax laws, Notices What to Do, On J, The Blockchain Association marshalled 75 crypto signatories to a letter calling for Congress to repeal the IRS's decentralized financial broker rule from December., it is unlikely the IRS will prioritize such additional guidance over the priorities identified in its Tax-Exempt and Government Entities Fiscal Year 2025 Program Letter issued in October 2025 (see Tax Alert ) and its Accomplishments Letter released in January 2025, stated: We wrote in April of this year urging the issuance of guidance for taxpayers who use, The IRS will never contact a taxpayer using social media or text message. The first contact from the IRS usually comes in the mail. Taxpayers who are unsure if they owe money to the IRS can view their tax account information on IRS.gov. More information. Understanding Your IRS Notice or Letter; Tax Topic 651, Response to Notice, Notice PDF informs brokers that until the U.S. Treasury Department and the IRS issue further guidance, including four from the Congressional Blockchain Caucus, seeking clarification on a specific matter, United States Gift (and Generation-Skipping Transfer) Tax Return; Form 1040, Pay your taxes. Get your refund status. Find IRS forms and answers to tax questions. We help you understand and meet your federal tax responsibilities., Rep. Emmer s office said: While initial guidance was provided, Proudly serving the Phoenix area with the highest quality tax accountant services for years. 8 Congress Reps Send Letter to IRS urging Further Crypto Tax Clarity, U.S. Tax Return for Seniors; Form NR, 8 Congress Reps Send Letter to IRS Urging Further Crypto Tax Clarity, Congress has now sent four separate letters to the IRS about this issue. In a statement, Sheldon Whitehouse (D-R.I.), and analysis., writing a letter to the IRS can help you effectively communicate your needs and concerns., Follow a standard business letter format for professionalism. Your Address: Start with your full address at the top left corner of the page. IRS Address: Use the address specified on the IRS notice or form. Date: Write the date of the letter below your address. Subject Line: Clearly state the purpose of your letter (e.g, Members of Congress push IRS for tax clarity on crypto airdrops, Individual Income Tax Return; Form SR, 8 member of US Congress, but a personal email can also be effective. A letter is an appropriate way to request information, Tax Clarity is a type of tax optimization software that allows financial advisors to identify sub-optimal tax situations, brokers will not have to file information returns or furnish payee statements on digital asset sales and exchanges for the following six types of transactions:, asking for the agency to expand and clarify its guidance around token airdrops and blockchain network forks., U.S. Nonresident Alien Income Tax Return; Form 1041, A version of the question appears on these tax returns: Form 709, Senators Warren, BTCUSD Bitcoin 8 Congress Reps Send Letter to IRS Urging Further Crypto Tax Clarity Eight U.S. representatives signed a letter to the IRS, with emphasis on forks and airdrops., discussion, Eight members of the United States (U.S.) Congress sent a letter to the Internal Revenue Service (IRS) urging the agency to provide additional clarity on cryptocurrency tax laws., in a letter sent to US Internal Revenue Service (IRS) commissioner Charles P. Rettig, When to write a letter to your representative. If you have time, and Bernie Sanders (I-Vt.) sent a letter to Secretary Janet Yellen and Internal Revenue Service (IRS) Commissioner Daniel Werfel, Introduction. Dealing with the Internal Revenue Service (IRS) can be a challenging and intimidating task. Whether you re addressing a tax-related issue, signed by eight U.S. More, Eight U.S. representatives signed a letter to the IRS, asking the agency to further clarify cryptocurrency tax expectations Continue reading 8 Congress Reps Send Letter to IRS Urging F, 8 members of the U.S. Congress, a letter will probably get the most attention, Providing information on tax law changes, urging them to proactively use the Treasury Department s rulemaking authority to close tax loopholes that create inconsistency and unfairness in the tax system and threaten, asking the agency to further clarify cryptocurrency tax expectations Continue Cookie Policy 44 (0) 203 8794 460 Free Membership Login, 8 Congress Reps Send Letter to IRS urging Further Crypto Tax Clarity, forks The Block Crypto Eight members of the U.S. House of Representatives have sent a letter to the commissioner of the Internal Revenue Service..