IRS Says, “Wait, Hold Up, Not Yet” To $10k Reporting Rule
The IRS has decided that U.S. businesses can hold off on reporting those pesky cryptocurrency transactions over $10,000. 🤯
On January 1, a law from the Infrastructure Investment and Jobs Act was supposed to make all U.S. businesses report crypto transactions exceeding $10,000. But after no guidance or regulations, the IRS says, “Hold up, we’re not quite ready to handle that.”