With the 2022 deadline for filing federal income tax returns approaching, the Internal Revenue Service (IRS), the enforcer of federal tax laws, has released a detailed set of requirements for the general public to deal with cryptocurrencies.

Until 2021, the IRS still used the word "digital currency" in corporate income tax forms, which have been upgraded to "digital assets". All Chinese citizens of the United States must respond to the question of cryptocurrency, "whether or not they participate in all transactions involving the sale and sale of digital assets."

The first question is about three ways of digital asset return-1040, personal income tax bill; 1040-SR, American seniors tax return; and its 1040-NR, American non-resident personal foreigner income tax return form, which requires:

At any time in 2022, do you: (a) receive (as a reward, reward, or payment for an asset or service); or (B) sell, swap, give, or deal with digital assets (or financial benefits of digital assets) in multiple ways?

Although all tax filers are asked to answer the above problem, yes or no, the IRS has brought about nine phenomena that must be checked "yes", as follows:

In the final analysis, the above proposals accept, acquire, sell or sell cryptocurrencies, including mining and bets, for all material benefits. In addition to checking "yes", qualified operators are also required to report all gains related to the sale and sale of digital assets.

The only way to check "no" in the filing is if they simply own encrypted assets, transfer assets between their wallets, or buy encrypted currencies for the currency in circulation.

A recent decree explicitly proposed at the first meeting of the Arizona House of Lords in 2023 that Arizona residents decide to change the state's constitution on direct taxation.

As part of the schedule of the State House of Lords, the SCR1007 decree read the article twice on January 19th and January 23rd, according to Cointelegraph.