IRS Commissioner says crypto gains are taxable in the cannabis industry as the IRS treats cryptocurrencies as property.
The Internal Revenue Service (IRS) continues to propose new tax reforms to regulate the crypto investments in the United States, with the latest notice sharing tax obligations for the marijuana industry.The notice, signed by IRS Commissioner De Lon Harris, reflects the priorities of the United States federal agency to ensure cryptocurrency tax compliance among local businesses that grow, distribute and sell cannabis.Commissioner Harris said that the use of cryptocurrencies in the cannabis industry is one of the top enforcement priorities of the IRS. The statement coincides with the recent proposal by the Senate lawmakers from July 2021 that intends to tighten taxation and reporting rules on businesses dealing in cryptocurrencies. According to Harris:“Those who use it [cryptocurrencies] need to understand
Źródło: https://cointelegraph.com/news/crypto-tax-a-top-enforcement-priority-reminds-irs-commissioner
