[Analysis] FOIA documents reveal cryptocurrency guidance has not been a priority for the IRS - James Foust
A Freedom of Information Act (FOIA) request by Coin Center revealed the IRS had significant unanswered questions with its own 2014 crypto tax codes. Questions like how to calculate the fair market value or triggering external agency reporting have yet to be addressed. IRS Commissioner Charles P. Rettig told Congress that updated guidelines would be released in June, guidelines that have yet to be released. As Coin Center notes, the ambiguous rules have crypto investors becoming unintentional tax cheats. The FOIA only adds to frustration with the IRS.
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