WASHINGTON, July 11 -- Internal Revenue Service has issued a rule called: Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales.
The rule was published in the Federal Register on July 11 by Edward T. Killen, Acting Chief Tax Compliance Officer.
Summary: Pursuant to its authority under the Congressional Review Act (CRA), Congress passed a joint resolution disapproving the final rule titled "Gross Proceeds Reporting by Brokers that Regularly Provide Services Effectuating Digital Asset Sales, " and the President signed the resolution. Under the joint resolution and by operation of the CRA, this final rule has no legal force or effect. The Department of the Treasury (Treasury Department) and the ...