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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.
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vs 5,357 other S bills in the 117th — cohort avg 38d
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, (2) selling hardware or software for which the sole function is to permit access to digital assets on a distributed ledger, or (3) developing digital assets or protocols for use by other persons who are not customers.
These links require the bill number to appear in the filing's source-reported specific issue text. Client expenses and lobbying-firm income are separate disclosure fields.
Filing registrants (1)
2021 · fourth_quarter · Taxation/Internal Revenue Code
Legislative services related to financial services tax issues, H.R. 3684, Infrastructure Investment and Jobs Act, and H.R. 5376, Bill to provide for reconciliation pursuant to title II of S. Con. Res. 14, H.R. 6006, Keep Innovation in America Act, and S. 3249, Bill to revise the rules of construction applicable to information reporting requirements imposed on brokers with respect to digital assets, and for other purposes.
Client expense: Not reported · Firm income: $80,000
Read twice and referred to the Committee on Finance.
Introduced in Senate
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Sources: Congress.gov
Government targets: HOUSE OF REPRESENTATIVES, SENATE