IRS Proposes Electronic-Only Crypto Tax Forms for U.S. Brokers
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IRS 2026 proposal lets crypto brokers (Coinbase, Kraken) deliver Form 1099‑DA electronically and require clients to accept digital tax forms, removing the mandatory paper option. Brokers could drop users who refuse electronic delivery, creating custodial and compliance risk for retail and privacy‑sensitive customers. Rule aims to streamline tax reporting, reduce errors and strengthen crypto tax compliance—likely to boost regulatory transparency and CEX adoption while tightening oversight.
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- IRS proposal allows Coinbase and Kraken to send Form 1099-DA digitally for tax reporting.
- Brokers may drop users who refuse electronic tax forms under the new IRS rule proposal.
- IRS digital reporting proposal aims to improve crypto tax compliance and reduce errors.
The Internal Revenue Service (IRS) is proposing a major change in how U.S. taxpayers receive information about digital asset transactions. The agency plans to allow crypto brokers, including Coinbase and Kraken, to deliver Form 1099‑DA electronically and require clients to accept digital delivery. This proposal aims to streamline reporting, reduce paper usage, and strengthen compliance oversight of cryptocurrency transactions.
Previously, brokers had to provide customers with the option of receiving paper copies of tax forms. The proposal would remove the requirement to provide paper copies if broker…
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