The IRS has released a new draft of the cryptocurrency tax form, no longer requiring investors to fill in wallet addresses and transaction IDs

ChainCatcher news, according to CoinDesk, the Internal Revenue Service (IRS) released an updated draft version of tax form 1099-DA for cryptocurrency brokers and investors to report certain transaction gains yesterday, giving the public 30 days to provide feedback to the IRS on this version.

Starting in 2026, cryptocurrency investors using brokers (currently mainly referring to CEXs like Coinbase and Kraken) will receive 1099-DA forms from these brokers to report certain cryptocurrency sales and transactions to the IRS as taxable events. IRS officials stated that this form will "bring more convenience and clarity" to users paying U.S. crypto taxes.

The newly released version of 1099-DA is more streamlined than the initial draft of the tax form proposed by the IRS in April. The requirement for investors to fill in wallet addresses and transaction IDs has been removed (which had previously raised privacy concerns when the form was first published), and it is no longer necessary to provide the time of the related transactions, only the date.

Drew Hinkes, a partner at Miami law firm K&L Gates and a cryptocurrency lawyer, commented that the updated form "has seen significant improvements, reducing the reporting burden and greatly decreasing the amount of data required."