Does Cash App automatically report cryptocurrency transactions to the IRS?

3 answers

• Binderup HamannJan 15, 2021 · 5 years ago
  Yes, Cash App automatically reports cryptocurrency transactions to the IRS. As a financial service provider, Cash App is required to comply with tax regulations and reporting requirements. This means that any cryptocurrency transactions conducted on the platform will be reported to the IRS.
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• Paritosh WadkarNov 25, 2023 · 2 years ago
  No, Cash App does not automatically report cryptocurrency transactions to the IRS. However, it's important to note that as an individual, you are still responsible for reporting your cryptocurrency transactions and complying with tax regulations. It's always a good idea to consult with a tax professional for guidance on how to accurately report your cryptocurrency activities.
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• Antonia BronarsOct 16, 2024 · a year ago
  Cash App does not directly report cryptocurrency transactions to the IRS. However, it is important to note that the IRS has been cracking down on cryptocurrency tax evasion and has been actively seeking information from various sources, including cryptocurrency exchanges and financial institutions. Therefore, it is advisable to accurately report your cryptocurrency transactions to avoid any potential issues with the IRS.
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