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TREAS/IRS RIN: 1545-BQ45 Publication ID: Spring 2024 
Title: Returns Relating to Digital Assets in Excess of $10,000 Received in a Trade or Business 
Abstract:

This regulation will provide guidance under section 6050I regarding the reporting obligations of persons engaged in trades or businesses that receive cash (which, for purposes of section 6050I, includes digital assets in excess of $10,000) in the course of such trades or businesses.  Section 80603(b)(3) of the Infrastructure Investment and Jobs Act, Public Law 117-58, 135 Stat. 429, 1339 (2021) amended section 6050I to include reporting on receipt of digital assets.  The amended statute is effective for returns required to be filed after December 31, 2023.

 
Agency: Department of the Treasury(TREAS)  Priority: Other Significant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 26 CFR 1.6050I   
Legal Authority: 26 U.S.C. 7805    26 U.S.C. 6050I   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  12/00/2024 
Additional Information: REG-104347-22 (NPRM) Drafter attorney: Roseann Cutrone (202) 317-4094 Reviewer attorney: Adrienne Griffin (202) 317-5155 Treasury attorney: Natasha Goldvug (202) 622-0180 CC:PA:02
Regulatory Flexibility Analysis Required: Undetermined  Government Levels Affected: None 
Small Entities Affected: Businesses  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Roseann Cutrone
Attorney
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW.,
Washington, DC 20224
Phone:202 317-4094
Email: roseann.cutrone@irscounsel.treas.gov