Does anyone remember past year’s tax returns, with that really vague “digital currencies” question that some people might have skipped over? Well looks like this year’s tax return will have a solid amendment that should make the question indisputable if you do own any crypto-assets — “digital assets”. According to a new IRS tax return draft posted by the government agency, they decided to create a more broad and defined category that will require an actual yes or no answer as to whether or not one has interacted with digital assets in any way, including receiving them as gifts, being paid for a service, transacting with the asset, etc.

Welp, the crypto tax ignorance some have come to enjoy is coming to an end. And, we all knew this change was going to come sooner than later. Remembering the amount crypto entities whom are being sued for evading taxes as of late, it’s probably safe to say that it cannot be successfully ignored any longer. However, it’s still not fair. Crypto-assets are being taxed at high rates, only because of lack of legislation on the matter. There are crypto-friendly lawmakers who can take action on this for our community, but there haven’t been the kinds of strides the we’ve been hoping to see by now. Unfortunately, all we can do is pay our taxes, and wait for now. I have hope change will come soon.

Written by: nikethereum.eth / Medium / Mirror