PANews, September 25, reported by Crowdfund Insider, the IRS has released the draft of Form W-9 for 2026, which includes new compliance provisions for digital assets. It requires U.S. brokers to collect and verify customers' Tax Identification Numbers (TIN) in transactions involving Crypto Assets, NFTs, and other digital assets to enhance tax reporting. The draft also clarifies specific guidelines for sole proprietors and disregarded entities when filling out TINs to reduce the risk of backup withholding due to TIN errors. The new regulations will take effect on January 1, 2026, and businesses need to update their compliance processes, while individuals and enterprises should ensure the accuracy of their TIN information.
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The IRS has revised Form W-9, strengthening compliance requirements for digital assets.
PANews, September 25, reported by Crowdfund Insider, the IRS has released the draft of Form W-9 for 2026, which includes new compliance provisions for digital assets. It requires U.S. brokers to collect and verify customers' Tax Identification Numbers (TIN) in transactions involving Crypto Assets, NFTs, and other digital assets to enhance tax reporting. The draft also clarifies specific guidelines for sole proprietors and disregarded entities when filling out TINs to reduce the risk of backup withholding due to TIN errors. The new regulations will take effect on January 1, 2026, and businesses need to update their compliance processes, while individuals and enterprises should ensure the accuracy of their TIN information.