Cryptocurrency tax rules in 2025 require reporting every transaction, even small ones. Form 1099-DA now tracks sales and cost basis, and the IRS is aggressively enforcing compliance with audits and blockchain data. Ignoring crypto taxes can lead to heavy penalties.
The IRS treats Bitcoin as property, not currency, meaning every trade, spend, or sale triggers a taxable event. Learn how capital gains, FIFO rules, hard forks, and record-keeping impact your tax bill - and why ignoring this can lead to audits or penalties.
DeFi tax reporting requirements in 2026 leave you responsible for tracking every trade, staking reward, and liquidity pool transaction. No 1099-DA? Still owe taxes. Here’s what you must do to avoid penalties.