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Blockchain Taxable Income

McGlinchey Stafford

When Are My Rewards for Staking Cryptocurrency Taxed?

McGlinchey Stafford on

The IRS recently released Revenue Ruling 2023-14, in which it addresses the tax treatment of cryptocurrency staking rewards. The IRS phases the issue as follows: If a taxpayer that uses a cash method of accounting...more

McDermott Will & Emery

Jarrett Leaves Unanswered Questions on Taxation of Staking Rewards

McDermott Will & Emery on

In the latest turn of events for the closely followed Jarrett case concerning the taxation of staking rewards, on September 30, 2022, the US District Court for the Middle District of Tennessee granted the United States’...more

Eversheds Sutherland (US) LLP

Fork it over: IRS guidance reaffirms crypto position regarding significance of dominion and control in determining “virtual”...

On April 9, 2021, the Internal Revenue Service (Service) released Chief Counsel Advice 202114020 (the Guidance) regarding the tax consequences to an individual in receipt of Bitcoin Cash (BCH) following the August 2017 hard...more

Goodwin

Internal Revenue Service Clarifies Tax Treatment of Crypto in Certain Instances

Goodwin on

On October 9th, the IRS released a revenue procedure ruling and related FAQ, clarifying tax treatment related to cryptocurrency in certain instances. The ruling focused on tax treatment of hard forks and airdrops, and...more

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