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The requirement, which can take impact in 2024, requires U.S. taxpayers who obtain over $10,000 in cryptocurrency to report the social safety numbers and different private data of the sender. The supply was one among a number of included in a 2021 infrastructure invoice, which additionally included a controversial crypto tax reporting requirement which utilized to brokers. That provision galvanized an enormous business backlash, although it was in the end unsuccessful.
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