 Internal Revenue Service IRS tax news, Treasury, IRS provide transitional guidance for broker reporting on digital assets. Oh, so now the IRS is guiding my investment broker. I mean that's great. Am I supposed to be happy about that? That's like a bunch of lions guiding a baby deer. I mean can you imagine the daddy deer saying don't worry Bambi, just follow these lions. Everything will be fine. I mean that's like Poseidon guiding your boat in the middle of the ocean after you pissed him off by blinding his favorite Cyclops. Honestly, that's like having the public school system guide your kids on gender identity when their true goal is to suck out the valuable testosterone and estrogen from the little boys and girls respectively and then inject the testosterone directly into the girls ovaries and the estrogen directly into the boys testicles in exchange for government subsidies. Subsidies funded through collusion with the pharmaceutical companies. Or at least that's what I heard. Anyways, first to joke, President Biden is at his wit's end. I'm at my wit's end. Wit's end! Unfortunately, his wit's end at the same spot they begin. Perhaps I can divine a solution to this funny problem. His wit curve being less than huge. But it would require that you don't worry. Everything will be fine. Everything will be fine. Oh come on man. No, I'm serious. Ten years ago, how many knew what the hell the supply chain was? No, I'm serious. Let me conclude by summarizing President Biden's entire wit curve. Period. Yeah, you're far. Whatever you need will be fine. Now run along and play with your little toys. I are 2022-227 December 23, 2022 Washington. The Treasury Department and Internal Revenue Service announced today that brokers are not required to report additional information with respect to dispositions of digital assets until final regulations are issued under section 6045 and 6045A. The Infrastructure Investment and Jobs Act Infrastructure Act enacted in 2021 amended provisions in section 6045 and 6045A to clarify and expand the rules regarding reporting of information on digital assets by brokers. Brokers are still required to comply with existing laws and regulations. Further details are in announcement 223-02. There's a link to that here posted today on irs.gov, irs.gov, irs.gov, v for victory over stuff. So this transitional guidance applies only to information returns filed for or furnished by brokers. In contrast, taxpayers are still required to report any income they receive from transactions involving digital assets. They are also required to answer the digital asset question on page one of either form 1040 or form 1040 SR. So the iris is kind of focusing in on those digital assets. That's another area that they haven't got a real kind of stranglehold on at this point in time. And I would expect, of course, this whole issue with the Sam Bankman and that whole FTX thing, which is just crazy kind of thing that was going on for so long, will probably increase. They're going to use that on the goods and bads to increase good regulations and bad regulations. I would suspect. So we'll see what happens. You'd think something has to happen. You got some guy just stealing money in the Bahamas. That's kind of something. Something's funny here. But in any case, we'll see what happens. It'll be interesting. So see the instructions to these forms for details for more information, including a set of frequently asked questions. You can visit the digital asset page on irs.gov, irs.gov, irs.gov. There's a link to the digital assets as well as links to all this other stuff here, and there'll be a link to this in the description.