Do cryptocurrency transactions made through Square Up get reported to the IRS?

4 answers

• May 09, 2022 · 3 years ago
  Yes, cryptocurrency transactions made through Square Up are reported to the IRS. As a digital payment processing platform, Square Up is required to comply with tax regulations and report transactions to the IRS. This ensures that individuals and businesses using Square Up for cryptocurrency transactions are accountable for their tax obligations.
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• May 09, 2022 · 3 years ago
  Absolutely! When it comes to cryptocurrency transactions made through Square Up, the IRS keeps a close eye on them. The IRS has been actively cracking down on tax evasion related to cryptocurrencies, and Square Up is no exception. So, if you're using Square Up for your crypto transactions, make sure you're accurately reporting your earnings and paying your taxes!
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• May 09, 2022 · 3 years ago
  Indeed, cryptocurrency transactions made through Square Up are reported to the IRS. It's part of the regulatory requirements imposed on Square Up as a financial service provider. The IRS wants to ensure that individuals and businesses involved in cryptocurrency transactions are not evading taxes. So, if you're using Square Up, be prepared to have your transactions reported to the IRS.
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• May 09, 2022 · 3 years ago
  Well, when it comes to cryptocurrency transactions made through Square Up, the IRS definitely keeps a close watch. Square Up is required to report these transactions to the IRS, just like any other financial institution. So, if you're using Square Up for your crypto dealings, be aware that the IRS will be aware of them too.
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