A bill to revise the definition of a broker for purposes of certain reporting requirements with respect to digital asset transfers under the Internal Revenue Code of 1986, and for other purposes.
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in senate (Aug 3, 2022)
This bill excludes certain persons from being considered a broker for tax reporting purposes. Under current law, the transfer of digital assets from a broker to a nonbroker requires the broker to file a return beginning on January 1, 2024. The bill provides that a broker does not include any person solely engaged in the business of (1) validating distributed ledger transactions, or (2) selling hardware or software for which the sole function is to permit access to digital assets on a distributed ledger.
What just happenedAug 3, 2022
Read twice and referred to the Committee on Finance.
Who’s behind it
- Introduced in SenateAug 3, 2022
- Aug 3, 2022IntroReferral
Read twice and referred to the Committee on Finance.
Finance Committee - Aug 3, 2022IntroReferral10000
Introduced in Senate