The IRS has granted a reprieve on new regulations governing the type of methods cryptocurrency holders can use to calculate gains and losses.
The agency issued temporary guidance on Tuesday (Notice 2025-07) allowing crypto users to use an additional year of additional methods to identify the cost basis of units of virtual currency sold or transferred. A previous IRS release required taxpayers to identify the units they sell based on the new portfolio-by-portfolio methodology starting in 2025; The latest guidance allows taxpayers to keep their own records to determine the cost basis method used for each unit sold or transferred, until next year when…
