IRS Grants Temporary Relief on Crypto Tax Rules

The United States Internal Revenue Service (IRS) has granted temporary relief from a new rule that would have automatically assigned a less favorable accounting method to crypto holders on centralized exchanges. The IRS initially stated that if cryptocurrency investors using Centralized Finance (CeFi) brokers do not choose an accounting method such as HIFO (Highest In, First Out) or Spec ID,... source: https://news.shib.io/2025/01/02/irs-grants-temporary-relief-on-crypto-tax-rules/?utm_source=rss&utm_medium=rss&utm_campaign=irs-grants-temporary-relief-on-crypto-tax-rules