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IIJA Mandate

Definition ∞ The IIJA Mandate refers to requirements established by the Infrastructure Investment and Jobs Act in the United States. This legislation included provisions related to digital asset tax reporting. It aims to enhance tax compliance for cryptocurrency transactions. The mandate broadens the scope of entities obligated to report digital asset activity.
Context ∞ The IIJA Mandate has generated significant discussion and concern within the digital asset community regarding its scope and practical implementation. Debates focus on which entities qualify as “brokers” under the new rules and the feasibility of collecting required data. News reports frequently cover industry efforts to seek clarification or amendments to these tax reporting provisions before their effective date.

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→IRS Final Rule

→Tax Compliance Burden

→Broker Definition Expansion

IRS Finalizes Digital Asset Broker Rules Mandating Standardized Tax Reporting

Digital asset brokers must now overhaul compliance systems to track cost basis and issue Form 1099-DA, standardizing tax reporting across the industry.