The US Treasury Department's new proposal requires overseas encrypted accounts worth more than $50000 to be reported to the IRS

Carbon news 2022-04-05 13:05:11 阅读数:538

treasury department new proposal requires

The U.S. Treasury Department issued a new 《 Green paper 》 A proposal was made in , Require U.S. financial institutions to report to the IRS about foreign account holders' U.S. overseas account tax compliance act (FATCA) Comprehensive information required , Including value over 5 $million overseas encrypted account . The proposal says taxpayers can trade with overseas digital asset exchanges and wallet providers without leaving the United States , The opportunity to hide assets and taxable income , To ensure that the United States can benefit from the global automated information exchange framework on offshore digital assets , And get information about U.S. beneficiaries , The United States must provide information on the foreign beneficiaries of certain entities in digital asset transactions on an equal footing .(Treasury)

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