#IRSForm1099DA

[form1099]

Why Did the IRS Create Form 1099-DA?

Digital assets have become very popular. Many people are buying, selling, and trading cryptocurrencies. Because of this, the IRS needs a way to keep track of all these transactions. The goal is to make sure that people report their earnings from digital assets and pay the right amount of taxes. Before Form 1099-DA, it was harder to track these earnings, which made it easier for some people to avoid paying taxes. The new form aims to solve this problem.