Gate News reports that on March 8, a certain CEX stated that the IRS’s new digital asset tax reporting form 1099-DA is too complicated and may impose unnecessary administrative burdens on many cryptocurrency holders. The CEX’s Vice President of Tax, Lawrence Zlatkin, pointed out that the new rules require reporting small transactions such as stablecoin trades and network gas fees. He noted that stablecoins generally have stable prices, and gas fees are usually only a few dollars or less, so reporting such information could lead to “over-reporting” and make the tax system more complex.
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