As Boston tax lawyer Kevin E. Thorn, Managing Partner of Thorn Law Group, discussed last year, the 2021 Infrastructure Investment in Jobs Act (IIJA) contains some important – and potentially troubling – provisions for cryptocurrency investors and others in the crypto space. In particular, the IIJA contains multiple new reporting requirements, including a requirement for “brokers” to report their customers’ transactions to the Internal Revenue Service (IRS). However, the legislation leaves “brokers” undefined, and the statute’s operative language is broad enough that this term could potentially encompass miners and stakers, among others.

As 2021 comes to a close, many people are already looking ahead to 2022. But, as we move into the New Year (and prepare for tax season), it is important to remember some of the key lessons we learned during the year that was. In this article, Boston tax attorney Kevin E. Thorn, Managing Partner of Thorn Law Group, takes a look back at some of the key topics we covered in 2021.