IRS Leadership Changes as New Crypto Tax Rules Take Effect

The U.S. Internal Revenue Service (IRS) is undergoing a leadership shift, with the departure of Trish Turner, head of its cryptocurrency unit, to join the private sector. This change coincides with the implementation of new tax regulations aimed at cryptocurrencies. The IRS has introduced updated reporting requirements for individual investors and brokers, leaving a vacancy in leadership for crypto-related activities. 3 million taxpayers have already reported their cryptocurrency transactions using the newly implemented 1099-DA form, though the true number may be higher.