The Treasury Department and the IRS have invited small businesses in the U.S. to share how the regulations would impact them, which will be supported by a public hearing scheduled for Nov. 7, 2023.
Once signed into law, the regulations will require all brokers in the U.S.
to file information returns with the IRS using the new Form 1099-DA and to provide payee statements to customers.The United States Government Accountability Office , a Congressional watchdog agency, released a 77-page report highlighting the need for stricter regulations around cryptocurrencies.
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