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| Name | IRS releases final rules on crypto tax reporting |
| Video Uploader | Video From Yahoo Finance |
| Upload Date | This Video Uploaded At 02-07-2024 17:45:00 |
| Video Discription | Gordon Law managing attorney and CPA Andrew Gordon joins Wealth! to give insight into the new IRS tax guidance for crypto investors. Gordon explains that the new broker regulations put into effect a requirement that brokers or crypto exchanges report to taxpayers, investors, and the IRS the individual's cost basis, as well as the sales price and the gain and loss that accompany it. "I would expect that there will be a massive increase in audits, a massive increase in criminal investigations based on this information, and more attempts to decrease this tax gap and collect more money from crypto investors," Gordon tells Yahoo Finance. About Yahoo Finance: Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life. - Get the latest news and data at finance.yahoo.com - Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO) - Follow Yahoo Finance on social: X: http://twitter.com/YahooFinance Instagram: https://www.instagram.com/yahoofinance/?hl=en TikTok: https://www.tiktok.com/@yahoofinance?lang=en Facebook: https://www.facebook.com/yahoofinance/ LinkedIn: https://www.linkedin.com/company/yahoo-finance #irs #crypto #taxes #yahoofinance 9EWfmoU9yiU |
| Category | News & Politics |
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