United States Government Publishing Office publisher pbl distributor dst United States National Archives and Records Administration Office of the Federal Register author aut Government Organization text government publication eng FR Regulatory Information 2023_register executive 2023-08-29 article Part II Proposed Rules D09002ee1c799879a D09002ee1c7998892 United States Department of the Treasury originator org United States Government Agency or Subagency United States Internal Revenue Service originator org United States Government Agency or Subagency This document contains proposed regulations regarding information reporting, the determination of amount realized and basis, and backup withholding, for certain digital asset sales and exchanges. Based on existing authority as well as changes to the applicable tax law made by the Infrastructure Investment and Jobs Act, these proposed regulations would require brokers, including digital asset trading platforms, digital asset payment processors, and certain digital asset hosted wallets, to file information returns, and furnish payee statements, on dispositions of digital assets effected for customers in certain sale or exchange transactions. These proposed regulations would also require real estate reporting persons, who are treated as brokers with respect to reportable real estate transactions, to include on filed information returns and furnished payee statements the fair market value of digital asset consideration received by real estate sellers in reportable real estate transactions. Additionally, these real estate reporting persons would also be required to file information returns and furnish payee statements with respect to real estate purchasers who use digital assets to acquire real estate in these transactions. 88 FR 59576 https://www.govinfo.gov/app/details/FR-2023-08-29/2023-17565 2023-17565 fr29au23-25 RIN 1545-BP71 4830-01-P REG-122793-19 https://www.govinfo.gov/app/details/FR-2023-08-29/2023-17565 https://www.govinfo.gov/content/pkg/FR-2023-08-29/html/2023-17565.htm https://www.govinfo.gov/content/pkg/FR-2023-08-29/pdf/2023-17565.pdf Income Taxes Reporting and Recordkeeping Requirements Employment Taxes Penalties Pensions Railroad Retirement Social Security Unemployment Compensation Estate Taxes Excise Taxes Gift Taxes 84 p. 59576 59659 88 FR 59576 Title 26 Part 1 26 CFR Part 1 Title 26 Part 301 26 CFR Part 301 Title 26 Part 31 26 CFR Part 31 RIN 1545-BP71 Gross Proceeds and Basis Reporting by Brokers and Determination of Amount Realized and Basis for Digital Asset Transactions; Federal Register Vol. 88, Issue PRORULE 2023-17565 II DEPARTMENT OF THE TREASURY Internal Revenue Service 2023-10-30 2023-11-07 REG-122793-19 4830-01-P 2023-17565 Notice of proposed rulemaking and notice of public hearing.

This document contains proposed regulations regarding information reporting, the determination of amount realized and basis, and backup withholding, for certain digital asset sales and exchanges. Based on existing authority as well as changes to the applicable tax law made by the Infrastructure Investment and Jobs Act, these proposed regulations would require brokers, including digital asset trading platforms, digital asset payment processors, and certain digital asset hosted wallets, to file information returns, and furnish payee statements, on dispositions of digital assets effected for customers in certain sale or exchange transactions. These proposed regulations would also require real estate reporting persons, who are treated as brokers with respect to reportable real estate transactions, to include on filed information returns and furnished payee statements the fair market value of digital asset consideration received by real estate sellers in reportable real estate transactions. Additionally, these real estate reporting persons would also be required to file information returns and furnish payee statements with respect to real estate purchasers who use digital assets to acquire real estate in these transactions.

Written or electronic comments must be received by October 30, 2023. A public hearing on this proposed regulation has been scheduled for November 7, 2023, at 10 a.m. ET. If the number of requests to speak at the hearing exceed the number that can be accommodated in one day, a second public hearing date for this proposed regulation will be held on November 8, 2023. Requests to speak and outlines of topics to be discussed at the public hearing must be received by October 30, 2023. If no outlines are received by October 30, 2023, the public hearing will be cancelled. Requests to attend the public hearing must be received by 5 p.m. ET on November 3, 2023. The public hearing will be made accessible to people with disabilities. Requests for special assistance during the public hearing must be received by 5 p.m. ET on November 2, 2023. Concerning the proposed regulations under sections 1001 and 1012, Kyle Walker, (202) 317-4718, or Harith Razaa, (202) 317-7006, of the Office of the Associate Chief Counsel (Income Tax and Accounting); concerning the international sections of the proposed regulations under sections 3406 and 6045, John Sweeney or Alan Williams of the Office of the Associate Chief Counsel (International) at (202) 317-6933, and concerning the remainder of the proposed regulations under sections 3406, 6045, 6045A, 6045B, 6050W, 6721, and 6722, Roseann Cutrone of the Office of the Associate Chief Counsel (Procedure and Administration) at (202) 317-5436 (not toll-free numbers). Concerning submissions of comments and requests to participate in the public hearing, Vivian Hayes at publichearings@irs.gov (preferred) or at (202) 317-5306 (not a toll- free number). Income Taxes Reporting and Recordkeeping Requirements Employment Taxes Penalties Pensions Railroad Retirement Social Security Unemployment Compensation Estate Taxes Excise Taxes Gift Taxes Gross Proceeds and Basis Reporting by Brokers and Determination of Amount Realized and Basis for Digital Asset Transactions, publichearings@irs.gov CoinMarketCap.com CryptoSlate.com https://cftc.gov/IndustryOversight/ContractsProducts/index.htm https://home.treasury.gov/system/files/136/DeFi-Risk-Full-Review.pdf https://www.bls.gov/news.release/ecec.toc.htm https://www.bls.gov/oes/tables.htm https://www.fatf-gafi.org/publications/fatfrecommendations/documents/guidance-rba-virtual-assets-2021.html https://www.irs.gov https://www.reginfo.gov/public/do/PRAViewICR?ref_nbr=201806-1545-024 https://www.regulations.gov www.irs.gov/draftforms www.regulations.gov Vol. 88, no. 166 Office of the Federal Register, National Archives and Records Administration 2023-08-29 continuing daily deposited born digital 354 p. Table of Contents: AE 2.7: GS 4.107: AE 2.106: KF70.A2 https://www.govinfo.gov/app/details/FR-2023-08-29 P0b002ee1c02e09f8 0097-6326 0042-1219 0364-1406 769-004-00000-9 000582072 f:fr29au23 https://www.govinfo.gov/app/details/FR-2023-08-29 https://www.govinfo.gov/content/pkg/FR-2023-08-29/pdf/FR-2023-08-29.pdf https://www.govinfo.gov/content/pkg/FR-2023-08-29/xml/FR-2023-08-29.xml fdlp 59439 59783 DGPO 2023-08-29 2024-05-29 FR-2023-08-29 machine generated eng FR FR-2023-08-29 88 166