US Internal Revenue Service (IRS) official Julie Foerster said that the crypto tax guide could be published within a year.
The proliferation and growing reputation of the crypto industry has prompted the governments of the country to take action. In many countries, work is underway on crypto taxation and regulation. Finally, the European Union’s MiCa regulation came into effect.
Julie Foerster, IRS official who attended Consensus 2023, said the IRS wants to change the way crypto is viewed and wants to work with the industry. In addition, Foerster made statements regarding crypto taxation.
Crypto Disclosures From IRS Official
Speaking at Consensus 2023, US Internal Revenue Service (IRS) official Julie Foerster made striking statements about crypto. Foerster mentioned that the US Internal Revenue Service has prepared guidance on crypto taxation. According to Foerster, this preparation could take effect within a year.
The director of digital assets said that the IRS plans to change the way it looks on cryptocurrencies. However, Foerster stated that all these views are his own and do not cover the institution he works for.
“We’re communicating with all of you, so we get it right and come up with a plan,” Foerster said. In his statement on the crypto industry, the director highlighted the need to have the right tools and the right people.
Finally, Foerster argued that digital assets are evolving and communication between the institution and the crypto industry needs to be increased.
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