The U.S. Internal Revenue Service (IRS) has extended the comment period for the new cryptocurrency tax rules until November 13, 2026. The proposed rules for 2026 will affect sales and transactions conducted in 2025.
Previously, the U.S. Department of the Treasury released a nearly 300-page proposal that provided clear definitions for “brokers” in the cryptocurrency industry, addressing years of uncertainty in tax reporting. Under the new rules, cryptocurrency exchanges (CEXs), payment processors, certain custodial wallet providers, some decentralized exchanges (DEXs), and individuals or entities that redeem issued cryptocurrencies will be required to fulfill tax reporting obligations. The new rules also introduce a new tax form for use by newly designated brokers, resolving confusion over which tax form to use.