IRS crypto tax reporting needs have stirred major confusion within the community. Contrary to some beliefs, the IRS hasn’t backtracked on its reporting requirements.
They’ve merely provided a grace period for crypto exchanges to upgrade their tech. This led to widespread confusion when several publications made ambiguous headlines.
The end result was a Thursday filled with chaos as people struggled to make sense of the announcements.
This situation highlights the need for clear communication in the fast-evolving crypto space.
