S. 4751 · 117th Congress
A bill to revise the definition of a broker for purposes of certain reporting requirements with respect to…
Full title
A bill to revise the definition of a broker for purposes of certain reporting requirements with respect to digital asset transfers under the Internal Revenue Code of 1986, and for other purposes.
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
ToomeySponsor4 cosponsors · 2 D, 2 R
4 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill excludes certain persons from being considered a broker for tax reporting purposes. Under current law, the transfer of digital assets from a broker to a nonbroker requires the broker to file a return beginning on January 1, 2024.
What it does: CRS summary · Introduced in Senate · Aug 3, 2022
This bill excludes certain persons from being considered a broker for tax reporting purposes. Under current law, the transfer of digital assets from a broker to a nonbroker requires the broker to file a return beginning on January 1, 2024. The bill provides that a broker does not include any person solely engaged in the business of (1) validating distributed ledger transactions, or (2) selling hardware or software for which the sole function is to permit access to digital assets on a distributed ledger.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: A bill to revise the definition of a broker for purposes of certain reporting requirements with respect to digital asset transfers under the Internal Revenue Code of 1986, and for other purposes.
Latest action (Aug 3, 2022): Read twice and referred to the Committee on Finance.
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: Aug 3, 2022
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.