Once people start receiving the scary and confusing 1099s next year from using Venmo et al. from Bidens new policy, crypto may seem preferable to some people. Pro taxists often underestimate the fear common people have of tax authorities.
Most of these 1099s are going out to people who owe little or no tax on the transactions, such as people who split restaurant bills worth more than $600 over the course of a year.
