IRS - Crypto Tax Delay A Concern Treasury Department Needs To Act Now Say Senators | Benzinga
Prominent U.S. Sens. Elizabeth Warren (D-Mass.) and Bernie Sanders (I-Vt.) penned a letter to Treasury Secretary Janet Yellen and IRS Commissioner Daniel Werfel expressing their concerns over the delay in implementing tax reporting requirements for crypto brokers.
They emphasized the urgency to close the vast crypto tax gap and ensure the industry is aligned with other financial sectors in tax reporting.
The senators pointed to the potential loss of billions in tax revenue for the federal government.
This call to action comes just ahead of Benzinga's Future of Digital Assets conference on Nov. 14, which promises to shed light on such pressing issues facing ...