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Crypto payments above $10,000 would be reported to IRS under Treasury plan
https://arstechnica.com/tech-policy/2021/05/crypto-payments-above-10000-would-be-reported-to-irs-under-treasury-plan/ [arstechnica.com]
The Biden administration wants businesses to report cryptocurrency transactions with values of at least $10,000 to the Internal Revenue Service.
"Cryptocurrency already poses a significant detection problem by facilitating illegal activity broadly including tax evasion," the US Treasury Department said [treasury.gov] in its proposal for implementing the tax compliance initiatives in President Biden's American Families Plan [whitehouse.gov]. The larger Biden plan still needs approval from Congress.
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