Businesses, taxpayers, digital asset exchanges, and the Internal Revenue Service (IRS) will be impacted by new requirements for reporting cryptocurrency transactions and other digital assets to the IRS that go into effect with tax year 2023.

The new requirements will force significant operational changes for exchanges and the IRS, but how will they make it easier for taxpayers to fulfill their tax obligations?

Understand how TaxBit is helping the IRS increase its accounting capability to handle large volumes of digital asset data and ensure accurate tax reporting on the road to crypto tax compliance.