Don't want to trade it yourself?
Our desk runs DEX portfolios on profit share.
The U.S. Congress is set to introduce a program that would reduce penalties for voluntary cryptocurrency tax disclosures, Cointelegraph reported. Under the Digital Asset Tax Certainty Act, or H.R. 10357, the Treasury Department would be required to implement the program within 12 months after the bill takes effect.
Taxpayers would need to file amended returns and demonstrate that crypto-related tax violations were not intentional. Those who come forward within 12 months of the law taking effect and pay unpaid taxes and interest would be eligible for penalty relief.
The bill passed the House Ways and Means Committee in a 38-5 vote. It still must clear floor votes in the House and Senate and be signed by President Donald Trump.