Navigating digital asset tax rules: tax year 2025 and the road ahead

Insights from the EY Center for Tax Policy

With the 2024 filing season now behind us, taxpayers and advisors are at a pivotal moment for digital asset tax compliance and reporting. Recent regulatory developments—along with a comprehensive report with recommendations from the President’s Working Group on Digital Asset Markets, congressional hearings, heightened IRS scrutiny, and expected legislative reforms—indicate a transition toward more systematic oversight. This shift is especially pronounced for stablecoins and platforms governed by broker reporting requirements. Yet much remains uncertain, including nuances of basis tracking, treatment of staking and lending, and how decentralized and foreign intermediaries fit into the reporting landscape.

Join us for a webcast in which we spotlight the key tax and reporting changes coming in 2025 and beyond, and what you need to do now to stay ahead.

Topics to be discussed include:

• Recent legislative proposals from Sen. Cynthia Lummis (R-WY), Rep. Max Miller (R-OH), and others, as well as the latest insights on digital asset taxation from Washington Council Ernst & Young
• Income tax reporting: anticipated changes to the treatment, recognition, and documentation of digital asset transactions for 2025 and beyond; insights on some top issues in the recent legislative proposals
• Information reporting: preparing for new transparency, broker reporting, and taxpayer disclosure obligations; steps taxpayers and their advisors can take right now

Panelists

Tara Ferris, Principal, Information Reporting and Withholding/Customer Tax Operations and Reporting Services Leader, Ernst & Young LLP

Bill Rys, Managing Director, Washington Council Ernst & Young, Ernst & Young LLP

Matthew Stevens, National Tax Digital Asset Co-Lead, Ernst & Young LLP

Moderator

Thomas Shea, Principal, Financial Services Crypto Tax Leader, Ernst & Young LLP

EY webcast managed and produced by Ernst & Young LLP’s Tax Technical Knowledge Services Group, Washington, DC: Lynn Fairfax