IRS Delays $600 Crypto Tax Threshold, Citing Need To Clarify Conditions Before Rollout – The Daily Hodl

The Internal Revenue Service (IRS) is delaying rolling out its new $600 reporting threshold for third-party settlements, saying that more clarity is needed before it can kick off. In a new press release, the IRS says that due to the moratorium, third-party settlement businesses will no longer be required to report transactions in 2022 that cross the $600 threshold. Furthermore, the IRS has designated 2022 as a “transition period” for the implementation of the new threshold, which was enacted as a part of the American Rescue Plan of 2021. “The transition period…delays the reporting of transactions in excess of $600