Tax department representative Julie Foerster, speaking at the Consensus 2023 event, spoke about the IRS’s plans to change the approach to taxation of cryptocurrencies, and added that the final document could be released within a year.
The director of the Digital Asset Project also said that the IRS plans to change its view of cryptocurrency and wants to work more with the industry.
In particular, Foerster emphasized that the landscape of digital assets is constantly evolving, so it is necessary to expand relations between the agency and the crypto community.
And to make sure the IRS gets it right and develops a plan that balances the needs of both sides, her five-person team worked with Consensus 2023 participants to understand the tax challenges facing the community.