Crypto Tax Bill Clears First Hurdle in New Hampshire Legislature
A New Hampshire bill to let the state accept taxes in the form of cryptocurrency has passed its first legislative hurdle.
Less than a year has passed since the IRS first sent taxpayers cryptocurrency "soft letters."
A hacker made off with user data and in some cases financial information on more than 1,000 customers of CryptoTrader.Tax, a crypto tax filing website.
The draft bill would define bitcoin and other cryptos as "currency" instead of an "asset" for tax purposes.
Though the IRS has yet to publish its promised crypto tax guidance, the warning letters recently sent to 10,000 traders hint at what to expect.
With the U.S. deadline to file taxes days away, 21 lawmakers have again urged the IRS to provide clarity on crypto.