CARF Is Coming: The IRS Will See Your Wallet Activity (2027–2028 Explained)

The IRS is about to receive foreign crypto exchange data, including wallet activity, under the upcoming Crypto Asset Reporting Framework (CARF). U.S. taxpayers now have a very limited window to get compliant.

In this video, Clinton Donnelly breaks down what the U.S. Treasury just proposed: participation in the Crypto Asset Reporting Framework (CARF) a global reporting system already signed by nearly 90 countries. CARF is expected to begin data collection in 2027, and foreign countries could start sending reports to the IRS in 2028.

CARF goes far beyond a 1099-DA. It could include:
- wallet addresses
- transfers
- exchanges
- disposal events
- tax residency info
- identity details collected by foreign exchanges

This video shows how the IRS may combine CARF data with tools like Palantir to identify who fully reported their crypto — and who didn’t. If you're a U.S. crypto trader with activity on foreign platforms, this may be the most important update you watch all year.

⏱️ Timestamps
0:00 — The Big CARF Announcement
1:00 — What CARF Actually Is
1:36 — CARF vs CRS (and FATCA)
3:00 — CARF vs 1099-DA (The Big Difference)
3:20 — How the IRS May Use CARF Data (Palantir Tools)
4:25 — The Private Wallet Visibility Problem
4:15 — When CARF Begins (2027–2028 Timeline)
4:50 — You Have One Year to Get Your Tax House in Order

#CARF #1099DA #CryptoTax #IRS #CryptoAudit #BinanceTax #CryptoCompliance #CryptoReporting #ClintonDonnelly #CryptoTaxAudit

Need help before CARF goes live?
Get a confidential 1:1 strategy session with Clinton Donnelly:
👉https://www.cryptotaxaudit.com/crypto-tax-consultation

More help:
• Crypto tax audit defense - https://www.cryptotaxaudit.com/taxshield
• Education & guidance on crypto tax reporting

Have a question about CARF or foreign reporting?
Drop it below and we’ll cover it in an upcoming video.

Disclaimer: This video is for educational and informational purposes only and does not constitute legal, tax, or financial advice.
Tax laws and IRS procedures can change, and every situation is unique.
You should consult with a qualified tax professional before taking any action based on this content.
Watching this video does not create a client relationship with Clinton Donnelly or CryptoTaxAudit.

For personalized guidance, visit
👉 https://www.cryptotaxaudit.com/crypto-tax-consultation

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