Infrastructure Bill May Affect Reporting and Tax Requirements for Cryptocurrency

Since August 10, 2021, the Senate passed the infrastructure bill with amended language (H.R. 3684).  There was a dispute regarding reporting and tax requirements on cryptocurrency transactions.  H.R. 3684 now moves to the House.  With respect to bonds, the Senate’s package includes language to expand permitted use of private activity bonds for broadband projects, expand permitted use of private activity bonds for carbon capture technology, and increase the nationwide cap for highway or surface freight transfer facility bonds from $15 billion to $30 billion.

Victoria S. Byerly is an attorney in KAV’s Public Finance Group. A specialist in Section 103 of the Internal Revenue Code, her practice is exclusively dedicated to state and federal tax matters related to the issuance of tax-exempt debt obligations.