Changes in IRS cryptocurrency tax regulations, 2024-12-31 safe harbour deadline (US)

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These were interesting:

As I understood it (could be wrong): if you're a US taxpayer owning cryptocurrency who doesn't have good records of cost basis and acquisition date per lot per account/wallet, there's an opportunity before 2024-12-31 to declare a "safe harbour plan" setting cost bases for your lots, which might be advantageous in minimising capital gains tax. (Seems like short notice! but might be worth looking into for some. Also Cryptotaxaudit offers a free ready-made safe harbour plan you can sign up for.)

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I saw your post on PTA Matrix form regarding this, and panicked at the deadline. Been reading and watching videos all day. Its a little confusing still to me. I have been using hledger for my crypto for a couple years now so I think I am prepared. Its still not streamlined as my banking is, but I am not an active day trader, so I have my own little formula that I have adjusted to work for me. Hledger is great and I'll just keep at it, and keep perfecting it every now and then as I learn a new tricks here. I try to stay up to date with crypto stuff, and although this was reported earlier in the year I guess, it didn't come across my radar. I imagine some are doing some late night number crunching.

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I just noticed, this US tax reporting date seems postponed till next year: