The IRS has issued temporary relief under section 1.1012-1(j)(3)(ii) Here’s what you need to know. 👇 What’s the deal? For context, the IRS made new rules a while back for CeFi brokers: starting Jan 1, 2025, if you don’t tell the broker how to handle your crypto sales (like using HIFO or Spec ID accounting), they’ll default to FIFO (First In, First Out). Translation: FIFO means they’ll sell your oldest crypto first, which might have a super low cost basis (aka more taxable gains = higher tax bill). Not fun during a bull market. 💸 The problem: Most CeFi exchanges weren’t ready to let you pick specific accounting methods by 1/1/25. So, people were stuck with FIFO whether they liked it or not. The fix: The IRS noticed this mess and dropped a temporary relief rule (Notice 2025-7). Now, if you sell crypto on a CeFi exchange in 2025, you can use your own records (like CoinTracker 🙋‍♀️) to decide which assets you’re selling. No forced FIFO. But there’s a catch: This rule only covers 2025. After Dec 31, 2025, CeFi exchanges should have their stuff together. You’ll need to lock in your preferred accounting method (HIFO, LIFO, etc.) with them by Jan 1, 2026—or you’re back to FIFO as the default. 💡 Make sure your exchange and tax software are on the same page so your records sync up. Do you need to do anything now? Nope! This relief happens automatically. But if you sell crypto in 2025, be sure you’re tracking your transactions with good software or detailed records. Otherwise, you’re stuck with FIFO, which could mean a bigger tax bill.

How @CoinTracker supports Universal to Per-wallet transition. x.com/CoinTracker/status/185…

For those impacted by Hurricane Helene, or looking to support response and recovery efforts in affected areas, Starlink is now free for 30 days. Learn more here → starlink.com/HurricaneHelene…

Starting 8/26, we will be migrating the Polygon ticker from MATIC to POL on the Polygon Network. Between 8/26 and 9/10, send/receive will be disabled for MATIC on the Polygon Network in order to successfully complete the ticker change from MATIC to POL. Here is what to expect:

I always say, I didn't leave the Democratic Party, the Party left me. I still hold the best of its traditional values. Free speech, civil liberties, opposition to war, skepticism of the intelligence agencies, honest & transparent government, environment, dignity of all races.

The mad blind rivalry of the two political parties is snuffing out the soul of our nation. This rivalry distracts us from our real problems—the $34 trillion dollar debt; the destructive merger of state and corporate power; our declining health; the epidemic of addiction; the growing war machine; widespread soil degradation; the fact that fifty-seven percent of Americans cannot put their hands on a thousand dollars during an emergency. Instead of focusing on these critical issues, politicians direct our attention toward divisive culture war issues such as abortion, transgender athletes, gun control. We then discharge our anxiety and rage onto these issues, and especially those who hold opposing views on them. Thus distracted, the public offers little resistance to its ongoing robbery at the hands of elite corporate interests. Step outside the culture war. Step outside the politics of hating the other side. Vote independent in 2024! #Kennedy24

Take 3 minutes and watch this. RFK Jr’s closing remarks from the Trump/Biden debate: “There was a poll taken that asked young people under 35 in this country, are you proud of the United States? 85% said yes. The same poll taken five months ago, 18% said yes. So somehow, during the administration of these two presidents, an entire generation of Americans has lost pride in our country, hope in their own futures. They feel that way because they see what's happening. They can't get into a home, first generation in history in America, that is gonna live worse lives than their parents. They see the vitriol that you saw here, the division, the polarization that makes them disgusted with politics. They're seeing the corrupt merger of state and corporate power that has transformed our agencies from the CIA, the health agencies, the environmental agencies into sock puppets. The industries they're supposed to regulate. They're seeing the destruction of our soils, the destruction of our air and water. They're watching this happen and the politicians do nothing about it except for hate on each other. If you want more of the same, you should vote for President Biden, President Trump, you know what's gonna happen. They're gonna give you four more years of the same stuff. If you want things to completely change, you're gonna support me because I'm gonna change everything. This is a moral fight. This is a moral battle for the soul of our nation. To restore our moral authority around the world by projecting economic power broad rather than spending $8 trillion on regime change wars that have left every nation we've touched worse off than we found it, and restoring our moral authority here at home. The first day in office, you heard what they're gonna do. Here's what I'm gonna do. Day one in office, I'm gonna issue an executive order saying any federal official who tells a lie to the American public will lose his job. I'm gonna stop the surveillance state. I'm gonna stop the propagandizing by our agencies of the American public. I'm gonna unravel the war machine. I'm gonna unravel the corrupt merger of state and corporate power. I know how to do it. I've been litigating against these agencies for years, and I'm uniquely suited to do this. I can tell you, I'm gonna do these things when I get in there. I'm gonna make sure that our Constitution is protected, and AI is deployed to make government more transparent rather than by government to enslave the rest of us. I'm gonna bring AI home and blockchain home because we need these new industries to grow our way out of the debt crisis. This is something that these two aren't even talking about, but if you want everything to change, you'll support me. If you wanna vote out of fear, you need to support one of those guys. If you wanna vote out of hope, out of inspiration, out of pride in your country, out of restoring the moral backbone of our people and our nation, you should vote for me. Thank you very much.”

Did you know that you don't have to pay your tax bill all at once?

Join our livestream June 13th @ 11am ET with the CBP committee and experts Chris Lazzaro from CoinTracker and Faiz Rasool from Datos Finance. Learn responsible Bitcoin buying, selling, and trading, with a focus on transaction tracking and tax compliance. bit.ly/BTCtaxes

In: Staking rewards Out: Cluttered transaction pages 🔍 We've enabled the ability to hide your staking rewards for a more focused view of your transactions. This setting will stick around even if you leave the app and come back later. 🪄

I just did my crypto taxes with @CoinTracker. Try it for yourself: cointracker.com

I am deeply concerned by the Biden administration criminalizing core tenants of the Bitcoin network and decentralized finance. My full statement. ⬇️

I don't think crypto will be pseudo-anonymous or privacy-preserving anymore, at least in the US. Yesterday, the IRS issued the long-awaited draft Form 1099-DA, the first tax form specifically designed to collect your ID and detailed transaction data at scale from "brokers". Brokers (CeFi exchanges, certain DeFi exchanges, and wallets) will be required to generate this form for each sale transaction and submit that info to the IRS and you (similar to stock brokers) starting 1/1/2025.

I have been using ZenLedger for the past 2 years but CoinTracker has seriously upped their game best crypto tax calculator experience by a mile!

Time slips away from us all - File an extension using our comprehensive guide 👇cointracker.io/blog/three-st…

Join tomorrow’s conversation with @arbitrum! We’ll cover: @CoinTracker's industry-leading tax support for Arbitrum, staking, lending, liquidity pools, NFT support, and more. 🪩 Set a reminder ⤵️ ⏰ April 12, 11am PT/2pm ET x.com/arbitrum/status/177719…

Get those taxes done right.

Join us and our frens at @Arbitrum this Friday for some crypto tax discourse (we’re looking at you procrastinators 😉) ⏰ April 12, 11am PT/2pm ET ⬇️

10 DAYS UNTIL TAX DAY ⏳ Time is ticking so we’re bringing you the facts. Here are 10 different types of taxable crypto events ⤵️