1. It's absolutely retarded BS.

2. I filled out a form, and timestamped it, and took screenshots of my wallet balances.

Since they don't need to be submitted anywhere yet, I feel ok doing this as a precaution. Doing so at least gives you optionality in the future.

Ultimately, the Safe Harbor (per my understanding) is just a way to save on taxes and not be forced to use FIFO for all unused basis. If you don't do it, you'll likely just have to use FIFO and pay more in taxes.

3. I desperately hope this gets repealed with the new administration, or at the very least revised by people who have at least a halfway formed concept of digital assets and how they work.

What form did you fill out?

Looks like it's been delayed by a year at minimum.

https://cryptoslate.com/irs-grants-temporary-relief-on-crypto-tax-reporting-rules-amid-legal-challenges/

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