Crypto
U.S. crypto tax bill advances, seeks penalty relief for voluntary disclosures
A bill moving through the U.S. Congress would create a separate voluntary disclosure program for digital asset taxpayers to correct past reporting errors. If enacted, eligible taxpayers could file amended returns for prior violations and pay unpaid tax, interest and program penalties. The proposal sets lower penalties for those who certify the errors were not fraudulent or intentional, and higher penalties for those who do not. The bill has cleared a House committee but still needs passage by both chambers and presidential signature.
