Research shows that the virtual currency filing rate of US taxpayers is only 32% to 56%, and the new IRS regulation 1099-DA accelerates the tightening of compliance

Comparative news, according to a CNBC report in the US, the latest research published in the academic journal “Review of Accounting Studies” shows that only 32% to 56% of US taxpayers who hold virtual currency actually report transactions to the federal government

As the IRS makes it mandatory for intermediaries to submit a virtual currency version of the tax return “Form 1099-DA” in 2025, inconsistencies between operator reports and taxpayer returns will be easier to be identified by the authorities. The table only needs to report total revenue for the first year, and the obligation to report Cost Basis (Cost Basis) will be officially incorporated in 2026.