The IRS in Brazil has turned the spotlight on crypto deals and transfers, creating a special penalty code to fine for misreporting. Brazil Requires Monthly Filings for Crypto Activity Failing to file a monthly report of crypto asset movements triggers “Revenue code 5720 – Default for Default / Incorrect / Delay in Reporting on Transactions Performed with Crypto”, reported community portal OBN. Brazil introduced crypto regulation this August, and the IRS claims it has receivedRead MoreThe post Brazil IRS Creates Penalty Code For Dishonest Crypto Taxpayers appeared first on Bitcoinist.com.
