IRS Delays Form 8300 for Crypto

In Announcement 2024-4, the IRS announced that the requirement to include the receipt of cryptocurrency and other digital assets on Form 8300, Report of Cash Payments Over $10,000 Received in a Trade or Business, has been delayed.

This requirement along with the e-file requirement for Form 8300 are discussed on pages 53 to 54 of the Tax Year 2023 M+O=CPE Individual Tax Year-End Workshop Reference Book.

The requirement to report the receipt of digital assets valued at more than $10,000 was to be effective beginning on January 1, 2024, but the IRS has indicated that it will not become effective until the Treasury Department issues regulations.