Tax Experts Share Best Practices While We Wait for IRS Guidance

It’s paramount for industry enterprises to now take a close look at their security practices, according to Rob Massey, Deloitte’s global and US tax blockchain and digital assets leader. Chris Wrobel, special counsel to the associate chief counsel at the IRS, stated that the tax agency is considering different circumstances with respect to crypto tax policy. “We still treat digital assets as property…that’s still our position with respect to digital assets generally,” Wrobel said. Accountants and industry members have been anxiously awaiting an update from the Treasury and the IRS on broker reporting rules and requirements. The regulations will be issued under Sections 6045 and 6045A, according to an announcement from the IRS earlier this year.