In the United States, trade exchanges were classified by law, as of August 1982, as 3rd party record keepers as defined by the TEFRA Act of 1982. As such, trade exchanges have the same reporting requirements as banks, savings and loans, credit unions, and stock exchanges. They are required to report to you and to the IRS your sales for the year on a form 1099B. All tax payments are applicable as if the trade credit revenues and purchases were made in cash.

In the United States, IRTA is proud to be involved in the IRS Partnership Outreach to help educate business owners about how to properly account for trade transactions and to educate new trade exchanges of their obligations to members of their trade exchange.  IRTA's Executive Director, Ron Whitney, has also served on the IRS's Information Reporting Program Advisory Committee ,(IRPAC), from 2006 to 2009.  Ron has been instrumental in 
improving the Modern Trade and Barter Industry's communication with the IRS, especially with regards to the Non-Matching Tax Identification Number (TIN) issues that U.S. barter exchanges have dealt with.  A detailed report of Ron's IRPAC work is listed under the IRS Reporting tab of this website. 

In countries outside the United States, there are presently no reporting requirements. IRTA recommends that you consult with a professional in your area that is familiar with your country's reporting requirements.  IRTA has, and will continue to assist IRTA members regarding their country's examination of the barter and tax issue, as they arise.