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IRS to Track Crypto Transactions Across Wallets and Chains Starting 2026
IRS to Track Crypto Transactions Across Wallets and Chains Starting 2026
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BTCCSquare news:
The U.S. Internal Revenue Service (IRS) is intensifying its scrutiny of cryptocurrency transactions, with plans to mandate Form 1099-DA filings for traders beginning in 2026. Tax experts warn that failure to comply—even for those disputing the form's requirements—could trigger underreporting flags.
The new measures aim to map wallet activity across multiple blockchains, closing loopholes for discreet traders. This regulatory push reflects growing institutional efforts to bring crypto taxation in line with traditional financial reporting standards.
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