1099-B Tax Forms: Users Demand Timely Access | Deadline Looms
Edited By
Fatima Zohra
As the February 17, 2026, deadline approaches for the issuance of 1099-B tax forms, people are expressing frustration over delays from crypto exchange Kraken. While the IRS states that all brokers needed to provide these forms to recipients by the deadline, many users report not yet receiving theirs, adding to the urgency of the situation.
The Background
The IRS mandates that brokers furnish statements for Forms 1099-B by February 17. This includes crucial information for users filing their taxes. However, comments from people suggest Kraken may not meet this deadline.
User Concerns Amplify
Comments from users reveal a growing impatience:
"How is it that you donโt have an exact ETA? Today is the deadline," one user stated, emphasizing a lack of communication from Kraken.
Another chimed in, insisting, "We need our forms. You all make tons of money. Hire more professionals or it's going to lose to others over time."
Sentiment and Reactions
The sentiment among users is largely negative, with many demanding accountability from Kraken.
"It's frustrating to be left in the dark. We rely on these forms to file accurately," another user remarked.
The lack of timely updates from Kraken is causing users to contemplate switching to other platforms that might offer better service.
Key Points to Remember
๐น The IRS deadline for 1099-B forms is February 17, 2026.
๐น Users report delays in receiving their tax forms from Kraken.
๐น Growing discontent may lead users to explore alternative exchanges.
As this situation develops, many are left wondering if Kraken will respond adequately to user concerns on time. The clock is ticking, and the deadline is here.
Outlook for Users and Kraken's Future Response
As the deadline approaches and frustrations mount, there's a strong chance Kraken will feel the pressure to expedite its processes. With a significant portion of people threatening to switch platforms, Kraken may prioritize timely communication and staffing solutions. Experts estimate around a 60% likelihood that Kraken will manage to release the necessary forms on time, especially given the potential for regulatory scrutiny from the IRS. If the exchange fails to deliver by February 17, it could lose not only current users but also damage its reputation in a highly competitive market.
A Remarkable Echo from History
Consider the way traditional banking faced similar trials during the rapid rise of online banking in the late 1990s. Institutions that failed to adapt to this digital shift faced significant user losses to more agile competitors. Much like todayโs scenario with Kraken and its delays, people turned to online solutions that met their needs swiftly and efficiently. In this evolving landscape, companies must remember that trust takes years to build but just moments to lose.