An advisory committee of the U.S. Internal Revenue Service (IRS) wants the agency to provide additional guidelines for the taxation of crypto transactions, according to a 2018 general report published Oct. 24.
Although in 2014 the IRS had already issued commentary specifically on digital currencies, recommending they be treated as a property, the Information Reporting Program Advisory Committee (IRPAC) believes that crypto-specific taxation should be reviewed due to the growing public interest in cryptocurrencies.