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US Lawmakers Ask IRS to Clarify Crypto Tax Rules Around Airdrops, Forks in New Letter

The U.S. taxman's most recent crypto guidance is sowing confusion, according to a letter from eight congressmen published Friday.According to a letter penned by Representatives Tom Emmer (R-Minn.), Bill Foster (D-Ill.), David Schweikert (r-Ariz.), Darren Soto (D-Fla.), Lance Gooden (R-Texas), French Hill (R-Ark.), Matt Gaetz (R-Fla.) and Warren Davidson (R-Ohio),

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U.S. IRS Releases Guidance on Crypto Airdrops and Hard Forks

The United States' federal tax service has issued guidelines for tax reporting regarding cryptocurrency airdrops and hard forks.In an announcement on Oct. 9, the U.S. Internal Revenue Service (IRS) announced the issuance of Revenue Ruling 2019-24, which addresses common questions of taxpayers and practitioners regarding crypto hard forks and

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