How will the w9 threshold in 2024 affect the taxation of cryptocurrency earnings?

3 answers

• Dec 17, 2021 · 3 years ago
  The w9 threshold in 2024 refers to the minimum amount of income that triggers the requirement for individuals to file a Form W-9 with the IRS. This form is used to provide the necessary information for tax reporting purposes. The specific impact of the w9 threshold on the taxation of cryptocurrency earnings will depend on the changes implemented by the IRS. It is important for individuals who earn income from cryptocurrencies to stay updated on any new regulations or guidelines issued by the IRS to ensure compliance with tax laws.
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• Dec 17, 2021 · 3 years ago
  The w9 threshold in 2024 is expected to bring about changes in the way cryptocurrency earnings are taxed. It is likely that the IRS will set a specific threshold for cryptocurrency earnings, above which individuals will be required to report their earnings and pay taxes accordingly. This threshold may vary depending on factors such as the individual's filing status and total income. It is advisable for individuals who earn income from cryptocurrencies to consult with a tax professional or seek guidance from the IRS to understand their tax obligations.
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• Dec 17, 2021 · 3 years ago
  At BYDFi, we understand the importance of staying informed about changes in tax regulations. While we cannot provide specific information on the w9 threshold in 2024, we encourage individuals to consult with tax professionals or refer to official IRS guidelines for accurate and up-to-date information. It is crucial for individuals who earn income from cryptocurrencies to comply with tax laws and fulfill their reporting obligations to avoid any potential penalties or legal issues.
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