Sales Tax & NFTs – More Questions than Answers
Varying state rules create confusion.
Varying state rules create confusion.
As part of the negotiations around the “Recovering America’s Wildlife Act” currently making its way through Congress, lawmakers are taking aim at the wash sale rules that currently don’t apply to crypto losses as a means to fund the bill.
Note: This article originally appeared as part of CoinDesk’s Tax Week. Throughout 2022, the crypto economy has been in the throes of a bear market, which has taken a heavy toll on investors, platforms and protocols. While investors have watched the value of their holdings drop, there has been an uptick in failures at the […]
UPDATED 2/15/22 On the evening of February 2, news broke that the IRS had agreed to refund Joshua and Jessica Jarrett a little over $3,000 in taxes paid on Tezos (XTZ) staking rewards earned in 2019. The Jarretts filed suit against the IRS back in May 2021 in the Middle District of Tennessee after filing […]
As alternative asset classes move toward greater acceptance, many people have become interested in including non-traditional investments in their retirement planning. Self-directed IRAs (sdIRAs)have been available since the passage of ERISA in 1974, but recently there seems to be much more interest in them. This is no doubt the result of the recent crypto boom and more […]
Late Friday, the House passed the Infrastructure Investment and Jobs Act (download here). Tucked into the over 1,000 pages of legislation aimed at bolstering the US’s fledgling infrastructure, Congress also included some new information reporting requirements for crypto investors. Since we already went over the implications of the new reporting rules in a previous blog post, […]