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If we instead consider staking rewards to be payment for services, we will look at §61(a)(1), which says that compensation for services is included in gross income. Generally speaking, compensation for services is paid in cash (i.e. a paycheck). However, staking rewards are paid in crypto. No matter, §83(a) tells
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The IRS’s recent decision to refund $3,000 to a Nashville couple does not protect staking rewards from future taxation. Source
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Everyone might be a genius during a bull market, but the real stars begin to shine when the waters get choppy. The same can be said for crypto projects and developers and once the pump is over, it's easier for investors to separate the pump and dump projects from those
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In 2019, Joshua Jarrett paid income tax on 8,876 Tezos tokens he earned through staking. In 2020, Jarret asked the IRS to return the taxes he paid, arguing that the tokens were not income, but rather “created property.” The IRS currently treats digital assets as property for tax purposes, but
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A Nashville couple’s lawsuit over taxes they paid on unclaimed and unsold Tezos staking rewards is coming to an end with the Internal Revenue Service (IRS) agreeing to issue them a refund.The decision may set a precedent for future guidance on how crypto rewards earned through staking are taxed. At
Read MoreRewards points Blockchain platform, MiL.k Alliance, has coupled up with South East Asian travel accommodation platform, Yanolja, for rewards points compatibility and usage."The integration with South Korea’s fastest growing online travel agency means that Yanolja members can now connect the Yanolja app to the MiL.k app, providing the ability to
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