Deloitte’s Rob Massey: What Bitcoin Investors Need to Know About The Changing IRS Tax Guidance

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Rob Massey, who has advised Deloitte on crypto taxes since 2012, explains that the self-assessment system has not changed despite evolving tax rules for Bitcoin. Using Bitcoin as a means of payment requires new reporting habits, while wallet transfers do not all qualify as taxable realization events. Broker-issued 1099 forms will never provide a complete picture because the IRS can also observe transactions recorded on the blockchain. Massey asks Bitcoin holders to seek more Treasury guidance on lending, gain classification and cost basis rather than calling for tax exemptions to be repealed.

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Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
Telemac
Telemachttp://cryptoinfo.ch
Passionné de nouvelles technologies, j’explore l’univers de la blockchain et des cryptomonnaies pour partager l’actualité et les innovations du secteur.

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