The IRS 1099-DA crypto reporting requirements are now in effect for the first time, with every American who sold or traded digital assets in 2025 needing to account for those transactions. 53 million filers have already claimed new Trump administration tax exemptions, with average refunds increasing by 11%. IRS CEO Frank Bisignano testified on Tax Day, focusing on tax law implementation, while Democrats raised concerns about IRS data-sharing agreements with ICE. Starting with the 2026 tax year, mandatory basis reporting for digital assets will kick in.
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