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Cryptocurrency Reporting Under Biden Infrastructure Bill

Cryptocurrency traders are going to face more reporting under Biden’s Infrastructure Bill as the government eyes the digital currency. Persons who regularly execute transfers of digital assets such as bitcoin, ether and NFTs will needs to report those transactions to the IRS, as well as reporting any digital asset transaction over $10,000. If this rule looks familiar, it is because it is the same mandate for stock and bond trades. Failure to report will be treated as a felony which puts cryptocurrency traders in fear of violating rules that they may not be aware of.

My Personal Tax CPA LLC is the principal CPA firm in cryptocurrency tax and international tax accounting services for both individuals and businesses.

Disclaimer: This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult a tax, legal and accounting advisors before engaging in any transaction or submitting any IRS form.
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Ramin Mohammad

Ramin Mohammad is a lawyer and CPA with over 15 years of experience including working in audits, teaching, and in big law. Ramin helps clients on both personal and business related tax issues ranging from a multitude of practice areas including tax structuring, planning and cross jurisdictional taxes. His client-base expands throughout the US and overseas offering tax consulting, tax planning and tax preparation.

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