Crypto-Tuesday, December 6, 2022 – With the falling price of Cryptocurrencies there is talk that some new rules, due to take effect in 2023, may be postponed. Specifically, the new rule requiring crypto exchanges and brokerages to report customer information directly with the IRS.
Another result of falling Crypto prices is the ability of investors for tax loss harvesting. “[T]ax-loss harvesting is a long-established planning strategy when it comes to stocks, bonds and other conventional investments. It typically comes into focus at the end of a year.”
Attorney Steven A. Leahy addresses these issues on Today’s Tax Talk.