The U.S. Treasury Department has finally given some clarity – and perhaps a sigh of relief – to Bitcoin (CRYPTO: BTC) miners with a 300-page proposal under the 2021 Infrastructure Investment and Jobs Act. The proposal clarifies the tax reporting and data collection obligations of crypto exchanges, payment processors, and BTC mining operations.
A new tax form, the 1099-DA, has been rolled out for these parties to streamline the process. By giving miners their own tax form, the Treasury Department insulated them from more unexpected requirements.
