{"id":46901,"date":"2021-07-29T13:30:54","date_gmt":"2021-07-29T10:30:54","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=46901"},"modified":"2025-09-01T18:43:31","modified_gmt":"2025-09-01T15:43:31","slug":"us-authorities-to-raise-28-billion-from-crypto-transaction-taxes","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/us-authorities-to-raise-28-billion-from-crypto-transaction-taxes\/","title":{"rendered":"US authorities to raise $28 billion from crypto-transaction taxes"},"content":{"rendered":"

The U.S. Internal Revenue Service (IRS) will raise an additional $28 billion in taxes from cryptocurrency transactions. Such estimates are contained in the latest version of the bipartisan Congress plan to fund infrastructure spending, Bloomberg reports.<\/p>\n

The latest draft proposes tightening transaction-reporting rules for crypto brokers. It also includes a recommendation to require brokers to report all transfers of digital assets above $10,000.<\/p>\n

\n

“The provision clarifies the term ‘broker’. It explains that the reporting requirements apply to all asset types under Section 6045(g)(3), including digital assets”<\/em>, the document states.<\/p>\n<\/blockquote>\n

$28 billion will go toward financing transportation and power infrastructure in the United States, which lawmakers estimate at $550 billion.<\/p>\n

In June, the IRS requested increased funding<\/a> to bolster oversight in the crypto space.<\/p>\n

Earlier, the U.S. Treasury proposed expanding the requirements<\/a> for brokers’ reporting regarding digital currencies. They would be required to share data on the beneficial owners of accounts with the international information-sharing network of which the United States is a member.<\/p>\n

Subscribe to ForkLog news on VK<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"

The U.S. Internal Revenue Service (IRS) will raise an additional $28 billion in taxes from cryptocurrency transactions. Such estimates are contained in the latest version of the bipartisan Congress plan to fund infrastructure spending, Bloomberg reports.<\/p>\n","protected":false},"author":1,"featured_media":46902,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1227,36,558],"class_list":["post-46901","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-transactions","tag-regulation","tag-taxes"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/46901","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=46901"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/46901\/revisions"}],"predecessor-version":[{"id":46903,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/46901\/revisions\/46903"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/46902"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=46901"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=46901"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=46901"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}