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Wall Street Blockchain Alliance Calls For IRS To Make Small Payments Tax-Free
Summary: The Wall Street Blockchain Alliance has become the latest to ask the U.S. Internal Revenue Service (IRS) to consider granting a ‘de minimis’ exemption for crypto tax payments below a specific value. According to a report from Law360, the Wall Street Blockchain Alliance wrote to the IRS asking for cryptocurrency transactions below a certain threshold to ...
The Wall Street Blockchain Alliance has become the latest to ask the U.S. Internal Revenue Service (IRS) to consider granting a ‘de minimis’ exemption for crypto tax payments below a specific value.
According to a report from Law360, the Wall Street Blockchain Alliance wrote to the IRS asking for cryptocurrency transactions below a certain threshold to be exempt from taxation. The chairman of the group, Ron Quaranta told the IRS to focus on large bag holders instead of forcing virtual currency owners to examine every cryptocurrency microtransaction.
By Roland James
Tags: Cryptocurrency,exempt,IRS,Tax,Wall Street Blockchain Alliance
Link: Wall Street Blockchain Alliance Calls For IRS To Make Small Payments Tax-Free [Copy]
