IRPAC seeks crypto tax guidance

IRPAC seeks crypto tax guidance

The Information Reporting Program Advisory Committee (IRPAC) of the U.S. Internal Revenue Service (IRS) called for more clarity on cryptocurrency taxations. A report published by the agency also quoted that the tax liabilities concerning cryptocurrencies in the U.S. amount to $25 million as revealed in a research. The committee recommended ‘the IRS issue further guidance.’

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