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The requirement, which is able to take impact in 2024, requires U.S. taxpayers who obtain over $10,000 in cryptocurrency to report the Social Safety numbers and different private info of the sender. The supply was one in every of a number of included in final 12 months’s infrastructure invoice, which additionally included a controversial crypto tax reporting requirement that utilized to brokers. That provision galvanized a large business backlash, though the prevision was finally unsuccessful.
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