IRS

The IRS Issues Income Tax Guidance Dealing with Cryptocurrency Hard Forks and Airdrop

The U.S. Internal Revenue Service (“IRS”) released Revenue Ruling 2019-24 on October 9, 2019 providing guidance on the U.S. income tax treatment of hard forks and airdrops of cryptocurrency.  Revenue

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Airdrop, Hard Fork, IRS, Tax, US

IRS Begins Notifying Owners of Cryptocurrency of Potential Failures to Report Income and Pay Taxes

In July, the IRS announced that it had begun sending letters to taxpayers who may have failed to properly report income and pay any tax associated with cryptocurrency transactions or

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Cryptocurrency, IRS, US

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