The IRS form requires taxpayers to disclose crypto activity across more than 100 exchanges and wallets, while tax professionals say signing it could create legal risk for some filers.
The U.S. Internal Revenue Service (IRS) has introduced a new cryptocurrency audit form requiring taxpayers to report their full transaction and account history across more than 100 exchanges and wallets. Platforms and tools named in the form include Coinbase, Binance, Kraken, FTX, Mt. Gox, MetaMask, Ledger, and Trezor. Tax professionals warned that completing and signing the filing could create legal risk in some cases and advised taxpayers to consult a crypto tax lawyer before submitting it. The measure expands the IRS’s effort to map cross-platform digital asset activity and strengthen crypto tax compliance oversight.