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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 374.22-0.2%Nov 21 4:00 PM EST

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To: maceng2 who wrote (189379)7/2/2022 8:15:44 AM
From: TobagoJack  Read Replies (6) of 217937
 
Maybe this is why crypto has been tanking.
Those who know it was put in the legislation front ran everyone else....

taxprof.typepad.com

Congress Takes Its War On Cash To Digital Assets: Understanding Tax Code Section 6050I

SNIP:
This essay is about section 6050I of the tax code, the 1984 federal law that helped make cash obsolete. It’s important because the same law is now being aimed at digital assets, through an amendment to section 6050I that was signed into law on November 15. The new law subjects digital assets to the same reporting requirements as physical currency. The amendment, a mere eight words long, appeared on page 2,422 of the trillion-dollar Infrastructure Investment and Jobs Act.
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