The IRS has increased warning letters to crypto investors by over 750% in the past 60 days, raising concerns about new tax regulations.
Powered by ChatGPTAccording to CoinLedger CEO David Kemmerer, the number of warning letters related to the IRS received by US crypto investors in the past 60 days has surged by 758%, possibly indicating a new wave of tax enforcement is coming. This trend is related to the 1099-DA form regulations that will take effect in 2026, when crypto brokers will be required to report detailed profit and loss information on user asset transactions to the IRS. Common warning letters include the educational 6174, the suspected underreporting 6174-A, and the 6173 and CP2000, which require a response. Experts recommend that users proactively organize transaction records and file supplementary reports in a timely manner to reduce the risk of being audited. (The Block) [Odaily星球日报]