A bill to revise the definition of a broker for purposes of certain reporting requirements with respect to digital asset transfers under the Internal Revenue Code of 1986, and for other purposes.

Summary

This bill excludes certain persons from being considered a broker for tax reporting purposes. Under current law, the transfer of digital assets from a broker to a nonbroker requires the broker to file a return beginning on January 1, 2024. The bill provides that a broker does not include any person solely engaged in the business of (1) validating distributed ledger transactions, or (2) selling hardware or software for which the sole function is to permit access to digital assets on a distributed ledger.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 3 August 2022

   Introduced

   Introduced in Senate

   Source: IntroReferral

2. 3 August 2022

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 3 August 2022 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 3 August 2022

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 3 August 2022

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 3 August 2022

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Toomey, Patrick [R-PA] · R · Sponsor
• Sen. Sinema, Kyrsten [I-AZ] · D · Sponsor
• Sen. Lummis, Cynthia M. [R-WY] · R · Sponsor
• Sen. Warner, Mark R. [D-VA] · D · Sponsor
• Sen. Portman, Rob [R-OH] · R · Sponsor
• · ssfi00 · Standing

Related records

• related to → A bill to revise the rules of construction applicable to information reporting requirements imposed on brokers with respect to digital assets, and for other purposes.