The IRS released a preview of the new tax form, including new rules for cryptocurrency investors

The U.S. Internal Revenue Service (IRS) has previewed future tax forms for crypto investors after finalizing its controversial rules on how to report cryptocurrency transactions to the federal government. The new 1099-DA form will help calculate taxable gains or losses when trading with digital asset brokers and may include filling out personal token codes and providing information such as wallet addresses. Instructions accompanying the form show a date of 2025. The disclosure is preliminary and may still change depending on the final outcome of the tax rules proposed last year. While establishing U.S. tax practices for cryptocurrencies is one of the necessary steps to eliminate investor uncertainty and confusion, crypto businesses are nervous about how the IRS will identify digital asset brokers that need to comply with the new system, which may include wallet providers, decentralized platforms and payment processors. The IRS is seeking public comment on the draft form. It is unclear when the IRS will issue the final rule, but the 2025 form suggests that the final rule will be issued sometime this year. (CoinDesk)