The landscape of digital asset taxation is evolving with the upcoming implementation of Form 1099-DA reporting obligations, set to begin for the 2025 tax year. Brokers will be required to submit these forms to both taxpayers and the IRS by early 2026. Prior to this regulatory update, the disclosure of digital asset transactions relied heavily on self-reporting, often resulting in discrepancies and underreporting.

At SULLIVAN & COMPANY CPA INC., we navigate these changes with precision, offering strategic solutions designed to streamline compliance for high-net-worth clients and their advisors. Through our expertise in estate, gift, and forensic accounting, we help you align your tax strategies with personal and family financial goals. Our collaborative approach with legal personnel, fiduciaries, and wealth managers ensures that you’re well-prepared for these regulatory transformations.

We invite you to reach out to our team to discuss how these changes might impact your financial strategies and to explore how we can assist in achieving measurable results. As the deadline approaches, ensure your processes are updated to accommodate these vital compliance requirements, mitigating risks and maximizing opportunities within your financial landscape.