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New IRS $600 Tax Rule For 2023 (Venmo \u0026 Cash App \u0026 PayPal)Am I required to file taxes on my crypto? Yes, the IRS now asks all taxpayers if they are engaged in virtual currency activity on the front page of their tax. with events like selling, spending, or converting cryptocurrencies incurring capital gains tax. PayPal issues a K form for US-based users with crypto transactions and also provides a Transaction Summary file detailing all crypto-related activities. Originally set to kick off at the beginning of , the IRS planned to implement a new reporting rule that would require third party payment.
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