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      U.S. Digital Asset Holders Face October 15 Tax Deadline for 2025 Returns

      Digital asset holders in the United States who applied for an extension earlier this year must submit their federal tax returns for 2025 by October 15, 2026. This deadline follows the automatic six-month extension granted after filing Form 4868 before the spring deadline. While the extension allows for additional time to file, any taxes owed must have been estimated and paid by April 2026, and interest and penalties on unpaid balances have already begun to accrue.

      Brokers are currently reporting 2025 transactions on Form 1099-DA, enabling taxpayers to verify their income amounts. However, the cost basis information may still be incomplete, complicating the filing process for some. In mid-September, the U.S. Senate did not advance the CLARITY Act, which aimed to clarify regulations surrounding digital assets, with a close vote of 49 to 50, falling short of the 60 votes needed for advancement.

      The U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have indicated they will continue to develop rules regarding trading and custody of digital assets, rather than waiting for legislative action from Congress. Taxpayers should be aware that late filing penalties begin at 5% of the unpaid tax per month, with a maximum penalty of 25%, and a minimum penalty applies after 60 days.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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