In the rapidly evolving world of digital assets, staying ahead of regulatory changes is essential for compliance and maintaining trust with customers. On June 28, 2024, the U.S. IRS and Treasury finalized new digital asset tax reporting regulations, bringing significant updates to how brokers and service providers must handle their reporting duties. Alongside this, the IRS introduced drafts for the new Form 1099-DA, which details the specific reporting requirements for sales or exchanges of digital assets such as cryptocurrencies, NFTs, tokenized securities, and more.
This marked a turning point for digital asset service providers, who now must navigate both new 1099 reporting requirements and the nuances of digital asset income, including staking rewards, airdrops, and interest. With the compliance deadline looming, the time for action is now.
To help organizations in this sector stay compliant and customer-focused, Ledgible teamed up with industry experts from Sovos and ComplyExchange for an exclusive webinar. In this on-demand session, our panel of experts breaks down the essentials of compliance, helping businesses build a robust end-to-end operating model for tax reporting.
What You Will Learn:
- Key Deadlines and Timelines: Understand when the new rules take effect and how to prioritize your compliance efforts.
- Core Components of a 1099 Reporting Model: Get insights into the structure and processes that can ensure efficient and accurate reporting.
- Essential Data Elements: Learn what payee and transaction details are required to meet compliance standards.
- Establishing Compliance Leadership: Discover how to form steering committees and engage stakeholders to lead your organization’s compliance initiatives.
- Starting Your Compliance Journey: If you’re unsure where to begin, we offer practical steps to kickstart your process and make compliance a manageable task.
This webinar offers critical guidance for navigating the complex landscape of digital asset tax reporting. Whether you're just starting to develop a compliance framework or are looking for best practices to refine your existing processes, this session provides actionable insights from experts in the field.
Watch the Webinar Now
The full webinar is available on-demand. Click here to watch and ensure your organization stays ahead of the curve in this new regulatory environment.
