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ROBINHOOD Crypto Exchange – Grab FREE CASH for doing nothing! 💸 Want a quick €30 basically FOR FREE? Now’s the perfect opportunity! How to grab the cash? It’s super easy: Sign up here: https://join.robinhood.com/eu_crypto/pawez-871ba95f (Enter your PESEL number in the TIN field) Make a deposit: – €25 one-time deposit (you can withdraw it right away!) or – Deposit a minimum of €2 and do a few quick trades until you reach €25. (Pro tip: Use REVOLUT or BUNQ – fast deposits and withdrawals!) Short quizzes = extra €5 bonus! Just a few clicks and you get €5 more in your account! Get €25 in crypto! After 180 days you can sell and withdraw it – who knows how much it’ll be worth by then? 📈
The draft IRS Form 1099-DA introduces several changes and new clarifications that differ from current tax reporting regulations for digital assets: 1. **New Categories for Reporting**: The updated form introduces specific fields for reporting digital asset transactions such as stablecoins and NFTs. There are now distinct boxes for stablecoins (Box 11a) and NFTs (Box 11b), along with a new Box 11c to differentiate between ordinary income from NFTs and capital gains from their sale [oai_citation:5,Latest News on Form 1099-DA for Digital Assets (August 2024)](https://gordonlaw.com/form-1099-da/) [oai_citation:4,New, Revised Draft of Form 1099-DA: What’s Changed? | Gordon Law Group](https://gordonlaw.com/1099-da-revised-draft/). 2. **Broker Reporting**: The revised draft removes the requirement for brokers to explain the absence of a recipient’s Taxpayer Identification Number (TIN), and it consolidates non-cash proceeds reporting to simplify the process. Brokers are now asked to confirm whether they relied on customer-provided information (Box 8), which could affect compliance audits [oai_citation:3,New, Revised Draft of Form 1099-DA: What’s Changed? | Gordon Law Group](https://gordonlaw.com/1099-da-revised-draft/). 3. **Cost Basis Rules**: While cost basis reporting remains a crucial element, the new guidelines require tracking it on a wallet-by-wallet basis starting in 2025, marking a significant change from the previous universal cost basis method. This could complicate tax filing for those frequently moving assets between wallets [oai_citation:2,Latest News on Form 1099-DA for Digital Assets (August 2024)](https://gordonlaw.com/form-1099-da/). 4. **Exemptions**: The IRS maintains that certain participants, such as miners, node operators, and software developers, are not classified as brokers, thus exempting them from Form 1099-DA reporting [oai_citation:1,Latest News on Form 1099-DA for Digital Assets (August 2024)](https://gordonlaw.com/form-1099-da/). The form aims to streamline the reporting of digital assets, but ongoing ambiguities remain, especially around non-covered sales and loss disallowed reporting, which may need further IRS clarification.
create a new TIN just to not pay taxes? what kind of plan is that?
It’s for business transactions for goods/services and you’re being paid in crypto. Regardless if it’s $1000 or $100k the business/person (if sole proprietor) will receive a W9 from the sender. That W9 has the SS# or business tax ID (TIN). So no need to worry about getting that info being sent over 10k. W9 is what you’ll get which is taxable income
>This law only applies to businesses. Incorrect. [https://www.law.cornell.edu/uscode/text/26/6050I](https://www.law.cornell.edu/uscode/text/26/6050i) (a) Cash receipts of more than $10,000 Any [person](https://www.law.cornell.edu/definitions/uscode.php?width=840&height=800&iframe=true&def_id=26-USC-991716523-1419303359&term_occur=999&term_src=title:26:subtitle:F:chapter:61:subchapter:A:part:III:subpart:B:section:6050I)— (1) who is engaged in a trade or business, and (2) who, in the course of such trade or business, receives more than $10,000 in [cash](https://www.law.cornell.edu/definitions/uscode.php?width=840&height=800&iframe=true&def_id=26-USC-3046195-1950079050&term_occur=999&term_src=title:26:subtitle:F:chapter:61:subchapter:A:part:III:subpart:B:section:6050I) in 1 transaction (or 2 or more related transactions), shall make the return described in subsection (b) with respect to such transaction (or related transactions) at such time as the Secretary may by regulations prescribe. (b) Form and manner of returns A return is described in this subsection if such return— (1) is in such form as the Secretary may prescribe,(2) contains— (A) the name, address, and TIN of the [person](https://www.law.cornell.edu/definitions/uscode.php?width=840&height=800&iframe=true&def_id=26-USC-991716523-1419303359&term_occur=999&term_src=title:26:subtitle:F:chapter:61:subchapter:A:part:III:subpart:B:section:6050I) from whom the [cash](https://www.law.cornell.edu/definitions/uscode.php?width=840&height=800&iframe=true&def_id=26-USC-3046195-1950079050&term_occur=999&term_src=title:26:subtitle:F:chapter:61:subchapter:A:part:III:subpart:B:section:6050I) was received, (B) the amount of [cash](https://www.law.cornell.edu/definitions/uscode.php?width=840&height=800&iframe=true&def_id=26-USC-3046195-1950079050&term_occur=999&term_src=title:26:subtitle:F:chapter:61:subchapter:A:part:III:subpart:B:section:6050I) received, (C) the date and nature of the transaction, and (D) such other information as the Secretary may prescribe. Define when someone is engaged in a trade or business. What if their sole or majority source of income is crypto trading: Is that for sure an investment and not a trade or business? Also, apparently cryptoassets are cash for this provision but property for all others. Bizarre. Unworkable and unconstitutional.
> Under the filing exception as described in Publication 1544PDF , a filer is not required to provide the TIN of a person who is a nonresident individual or foreign organization. https://www.irs.gov/businesses/small-businesses-self-employed/irs-form-8300-reference-guide#tin