Did The IRS Really Just Delay Crypto Tax Reporting Requirements?
Posted On January 2, 2025
Cryptocurrency holders interacting with centralized finance, or CeFi, exchanges in 2025 are benefitting from more flexible accounting methods in a temporary relief notice issued by the IRS.
What Happened: A thread on X by ‘TheCryptoCPA’ Shehan, Head of Tax at CoinTracker, outlines the change in regulations that took effect on Jan. 1.
The IRS has recognized and addressed a practical problem with the previously finalized Sec. 6045 custodial broker regulations.
These regulations would have required crypto assets held with CeFi brokers to be sold under the First-In-First-Out (FIFO) method if no …
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