IRS Strengthens Crypto Tax Oversight as Filing Deadline Approaches

Odaily News The U.S. Internal Revenue Service (IRS) is intensifying its oversight of tax compliance for crypto assets. As the April 15th filing deadline approaches, related enforcement actions continue to be strengthened.

A report indicates that approximately 61% of U.S. crypto investors are still unaware of the new reporting rules for the 2025 tax year, and about 52% of investors are concerned about facing penalties due to filing errors. The new regulations require brokers to report digital asset transaction income to the IRS for the first time using Form 1099-DA, but the cost basis still needs to be calculated by investors themselves.

Industry insiders state that the current regulatory environment has become stricter. Investors need to maintain complete records of transactions and wallet data and file accurately to avoid potential legal risks. (DL News)