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...
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...
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...
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...
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...
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...
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...
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...
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...