The IRS and U.S. Treasury Dept. have proposed regulations “to help end confusion involving digital assets and provide clear information and reporting certainty for taxpayers [and] tax professionals,” in the words of IRS Commissioner Danny Werfel. To prevent digital assets from being used to hide taxable income, the regulations would require brokers, cryptocurrency platforms and certain other service providers to report transactions’ gross proceeds to the IRS and provide payee statements to customers. When real estate is purchased using these assets, real estate professionals would also be required to report. Rules would be effective Jan. 1, 2025. For details: http://bit.ly/3OYwR6K. Contact the Cg Team with questions. © 2023