The new e-filing requirement, beginning in 2024, applies to businesses mandated to e-file certain other information returns, such as Forms 1099 series and Forms W-2.

Long-awaited proposed regulations, part of a broader effort by Treasury to close the tax gap and address tax evasion risks posed by digital assets, require brokers to report sales and exchanges of digital assets by customers.

Wait times increased about the same time as the IRS ended program that thwarted line-jumping services, say tax practitioners, who also questioned the training of new hires.

The Treasury Inspector General for Tax Administration said the IRS is uncertain of the location of microfilm cartridges with tax information of both individuals and businesses.

The IRS disagrees with court decisions requiring notice-and-comment rulemaking to identify listed transactions, but said it is identifying monetized installment sales transactions as listed transactions in proposed regulations “to avoid confusion and ensure consistent enforcement of the tax laws throughout the nation to prevent disruption of the IRS’s ongoing efforts to identify and examine abusive tax shelters.”

Treasury and the IRS announced Wednesday that by filing season 2024, taxpayers will be able to go paperless if they choose to do so. And by filing season 2025, the IRS will digitize all paper-filed returns when they are received.

The IRS ruled Monday that cash-method taxpayers who stake cryptocurrency native to a proof-of-stake blockchain and receive cryptocurrency validation rewards must include the fair market value of the rewards in gross income in the year they are received.