New IRS Crypto Tax Guidelines Only Add More Problems
We are talking about the IRS …
” The IRS has published a new statement intended to clear up the issue of taxing cryptocurrencies — specifically regarding airdrops and hard forks. However, what the tax authorities shared only leads to more questions and confusion.
According to a new document from the IRS, the independent agency seems to understand that cryptocurrencies are decentralized digital assets and how the underlying blockchain technology works, claiming that they are independent networks that can “record, share, and synchronize transactions, the details of which are recorded in multiple places at the same time with no central data store or administration functionality. ‘ ”