What are 1099-B Tax Forms and Why They’re Going to Be Necessary for Crypto Exchanges
In 2023, the IRS will require by law crypto exchanges and wallets to generate 1099-B forms for each of their customers. The IRS considers crypto exchanges to function like brokerage firms and barter exchanges. This new form might include the crypto holder’s name and personal information, and an itemized list of every transaction they made on your exchange. The challenge is going to be in the tracking of customer information. Building in-house for your new tax form collection and generation is an option, but is it one you should take? Read All