IRS releases draft digital asset tax form

PANews reported on April 21 that according to Bitcoin com, the United States Internal Revenue Service (IRS) released a draft tax form for reporting digital asset transactions, which is applicable to tax returns in 2025. The form, known as a 1099-DA, is used to report digital asset gains from trades made by brokers. Brokers, including non-custodial wallet providers, must report proceeds from digital asset dispositions to the IRS, according to instructions on the payee form. A cryptocurrency tax expert stressed that the IRS’s collection of certain data points, such as wallet addresses, “could raise significant privacy and security concerns.”