It is May 3, 2026. The IRS has activated the compliance portal for the new Form 1099-DA, specifically designed for digital assets.
- Mandatory Filing: Any LLC acting as a digital asset middleman or accepting crypto as payment must issue this form for every transaction.
- Basis Tracking: The IRS no longer accepts estimates; it requires exact “cost basis” and acquisition dates for every digital asset sold or exchanged.
- The Shark Insight: “The 1099-DA marks the end of fiscal anonymity for Web3 LLCs. If your crypto bookkeeping isn’t surgical, you’ll trigger an automatic audit. Use reconciliation software that connects directly to the new IRS API.”