The United States’ Internal Revenue Service (IRS) announced their hosting a cryptocurrency summit on March 3, 2020. According to a press release, all crypto companies, advocates and influencers are welcome to attend.
2019 crypto income tax reporting deadline around the corner (Wednesday, April 15). As a result, the IRS is hosting this event in attempt to help crypto holders and traders avoid having to deal with non-reporting issues and consequences.
IRS cryptocurrency summit location & itinerary
The cryptocurrency summit is taking place in Washington, DC; the nation’s capital. The hosts will discuss regulatory guidance, compliance and crypto tax return preparation. In addition, technology and issues facing crypto exchanges will be discussed.
The format will consists of several panels, with each panel lasting 90 minutes. However, priority will be giving to speakers representing crypto private sector and government entities.
Cryptocurrency income & tax return: Do I have to declare?
According to the Virtual Currency Tax Fairness Act of 2020, all United States’ residents holding or trading cryptocurreny must their cryptoassets when filling taxes.
The form to file is called 1040. The 2019 tax form is the first to ask virtual currency questions.