5 Takeaways From the New IRS Crypto Tax Guidance

The IRS released an update to its guidance on crypto taxation earlier this month, the first such update since the initial version in 2014. The new guidance is in the form of a Q/A released on the IRS’s website – it mainly clarifies the tax treatment of Hard Forks and Airdrops but also underlines the tax treatment of various other forms of crypto activity. This is one in a series of moves the IRS has been making to ensure crypto traders pay their dues. In August of this year the IRS sent out letters to some 10000 crypto investors reminding

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