US authorities to discuss taxation with crypto startups

by in Cryptocurrency News

IRS crypto startups tax

The U.S. IRS has announced plans to host a summit with cryptocurrency startups to discuss an approach to taxing digital assets. This was reported by Bloomberg Tax.

Related: Crypto investors receive second round tax warnings from IRS

The summit is expected to be held on March 3 at IRS headquarters in Washington. During the meeting, four-panel discussions will take place: a discussion of the technology itself, the problems of the exchange, features of tax returns and compliance with regulatory requirements.

According to CoinDesk, the US Audit Office said earlier that the IRS refused to clarify whether management recommendations are binding.

Recall that the IRS for the first time since 2014 published a guide to the taxation of cryptocurrencies in October.

Congressmen considered it incomplete and asked to clarify the position on cryptocurrency airdrops and forks.

Recall, that in October 2019 Internal Revenue Service sent new guidance to cryptocurrency holders. There were published two documents (a ruling and a question-and-answer paper). It is believed that these papers are a consequence of the interest of auditors to individuals with crypto.