The IRS released the 2022 tax reporting requirements for digital assets

ChainCatcher news, according to Cointelegraph, as the deadline for submitting 2022 federal income tax returns approaches, the Internal Revenue Service (IRS) has released a checklist of requirements for reporting cryptocurrency income. The term "virtual currencies" in previous reporting forms has now been updated to "digital assets."

It is reported that the checklist provides nine instances where "yes" must be checked, such as receiving, earning, transferring, or selling cryptocurrency for any monetary gain, including mining and staking. The only situation where taxpayers can check "no" on the form is if they purely hold crypto assets, transfer assets between their wallets, or purchase cryptocurrency with fiat currency. (Cointelegraph)