New IRS Crypto Form Could Trigger ‘Phantom Gains’ and Unwanted Audits, Expert Warns

The Internal Revenue Service’s caller Form 1099-DA, portion designed to streamline taxation reporting for cryptocurrency users, whitethorn inadvertently trigger audits owed to incomplete outgo ground information provided by exchanges, an adept warns. The ‘Phantom Gain’ Trap The Internal Revenue Service (IRS)’s caller Form 1099-DA, though well-intentioned, could unfairly people galore cryptocurrency users for audits owed […]