33 results filtered by

A Snapshot of the Current Questions and Unsettled Policy Related to Cryptocurrency Taxation

Tax issues range from general questions about how digital assets should be taxed to technical issues dealing with accounting practices and reporting obligations. Novel technological aspects of digital assets that...

Congress takes a step toward a de minimis capital gains exemption for everyday cryptocurrency transactions

The Virtual Currency Tax Fairness Act of 2022 was introduced with bipartisan sponsors in the Senate today. This is a companion to a bill with the same name that has...

Coin Center amicus brief in Jarrett v U.S.

A direct download of this brief is available here. 

Congress takes a step toward a de minimis exemption for everyday cryptocurrency transactions

The Virtual Currency Tax Fairness Act of 2022 was introduced with bipartisan sponsors in Congress today. It would create a sensible de minimis exemption for low value cryptocurrency transactions in...

IRS signals retreat in court battle that could reshape block reward taxation

Last year, Joshua Jarrett sued the IRS for a refund. In 2019 he earned block rewards on proof-of-stake networks, paid taxes as if those rewards were income (as per the...

Congress Takes Its War on Cash to Digital Assets

The United States government really does not like Americans to make large cash transactions. Now, due to a new law, it really, really does not want Americans to use “digital...

An unworkable and arguably unconstitutional tax change tucked away in the infrastructure bill

Much has been said of the dangerously ambiguous revised definition of “broker” in the infrastructure bill and its potential to stifle cryptocurrency innovation in the U.S. There is, however, another...

Dilution and its discontents: Quantifying the overtaxation of block rewards

Newly created cryptocurrency tokens dilute the holdings of existing token owners. If block rewards are taxable income at their fair market value at the time acquired, token holders’ income will...

Eight members of Congress have asked the IRS to fix its broken guidance on forks and airdrops.

In October the IRS released long overdue answers to pressing questions about how Americans can properly calculate their taxes owed for various cryptocurrency activities. Unfortunately, that guidance is muddled, raises...

Taxing Cryptocurrency Block Rewards

Cryptocurrency networks have no dollars or other real currency to be spent on their own maintenance. Instead, newly minted cryptocurrency tokens are used to encourage people to help maintain the...

Show more

Format

Issue

Topic