IRS, Congressional Budget Office discussed on Marketplace Morning Report with David Brancaccio

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Brokers to report crypto currency trading gains to the irs so for example when people make money because they sell bitcoin when the price is up while senators think they'll generate about twenty eight billion dollars in tax revenues. Over ten years by doing this the sticking point has been over how to define cryptocurrency brokers. Some senators say the current definition is too broad and would ensnare software developers among others. There appears to be a compromise compromising place now to narrow the definition of who have to report to the irs but senators haven't worked it out yet. Now you know you mention this. Sweeping infrastructure plan is supposed to have been paid for not open ended borrowing but the congressional budget office has done the numbers and disagrees..

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