The Block invites you to their event

Tax and the Crypto Exchange: Can you Satisfy Both Your Customer and the IRS?

About this event

In recent months, the IRS has initiated high-profile court cases in both California and Massachusetts to issue what are called John Doe summonses to Kraken and Circle Financial (which owned Poloniex at one point). These John Doe summonses authorize the IRS to request customer account information broadly from the firms without specifying the name of the account owner under investigation.

A little less discussed, however, is the fact that the IRS is also working on tax information reporting regulations. These regulations are expected to specifically require exchanges and brokers facilitating crypto trades to report those transactions to the IRS and to customers. This may mean tax reporting on a Form 1099-B (as is currently required for securities trades) and would allow the IRS upfront access to taxpayer crypto transaction information without having to first engage in litigation.

The crypto tax information reporting regulations are expected to be released in proposed form in the near future.

Join our panel of tax reporting and industry specialists as they discuss the current state of IRS tax reporting for cryptocurrencies and other crypto assets. Also, what might the new tax reporting regulations look like? And does the IRS’s thirst for customer crypto tax data conflict with customer data privacy concerns or does it dovetail with customers’ demand for tax transactional and gain/loss data themselves?

Panelists:

Cameron Routh - Head of Tax Solutions, Refinitiv

Nelson Suit - Tax Compliance Officer, Refinitiv

Philip Garlett - Managing Director, KPMG


Hosted by

  • Guest speaker
    G
    Cameron Routh Chief Commercial Officer @ Refinitiv

  • Guest speaker
    G
    Nelson Suit Tax Compliance Officer @ Refinitiv

  • Team member
    T
    The Block The Block

    The Block is the leading information services brand in the digital asset space. Our expertise across news, research and data is unmatched and delivers objective insights into how this emerging industry intersects with technology, government and financial markets.

  • Guest speaker
    G
    Philip Garlett Managing Director @ KPMG

  • Guest speaker
    G
    Aislinn Keely Assistant Editor @ The Block

The Block

The Block is the leading research, analysis and news brand in the digital asset space. The Block delivers deep insight into how this emerging sector interacts with traditional finance, technology, governments and markets. Our foundation is simple: we are the first and final word in digital assets.