Tax Clarity for Digital Assets
The need for clear tax guidance for virtual currency users is a mission-critical issue for companies seeking to invest and innovate in this exciting technology frontier. Comprised of the leading industry leaders, our Tax Task Force is the educational authority of digital asset tax policy.
The Problem
The IRS has not provided updated guidance on digital asset taxation since 2014. This lack of direction hinders taxpayers and businesses from effectively navigating the complex landscape of digital asset taxation, leading to uncertainty and potential compliance issues.
Our Solution
We’ve established our Tax Task Force to educate policymakers on digital asset tax policies. Our advocacy efforts are focused on promoting tax policies that support compliance and foster innovation, economic growth, entrepreneurship, investment, and collaboration in key areas such as digital asset lending, information reporting, foreign bank account reporting, the characterization of digital assets, and proof of stake protocols.
Relevant Links
April 2022: Chamber Comments to the OECD on Crypto Tax Policy
Memo: Crypto & the Infrastructure Bill
CNBC: What’s Wrong with the Infrastructure Bill
Chamber of Digital Commerce Letter to IRS on Application of FATCA to Digital Assets
Calling Crypto Tax Experts
Our Tax Task Force is led by experienced professionals in tax compliance. We interact with policymakers to assess IRS guidance and champion a tax framework for virtual currency that fosters widespread adoption.
