Technology

Lawmakers introduce bipartisan bill to address crypto tax reporting requirement

A bipartisan group of House representatives introduced a bill Thursday to address a contentious new tax reporting requirement for cryptocurrency in the infrastructure bill. The Keep Innovation in America Act, led by Reps. Patrick McHenry, R-N.C., and Tim Ryan, D-Ohio, would define brokers, newly bound to the tax reporting rules so that software developers without the necessary customer information to report are not tied up in the new provision. Though lawmakers attempted to include a fix to the perceived issue prior to the infrastructure bill’s passage, an amendment was blocked by Sen. Richard Shelby, R-Ala., for what he said was an unrelated reason.

Full story : Lawmakers introduce bipartisan bill to address crypto tax reporting requirement.

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