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Recent Tax Developments Concerning Staking Rewards | McDermott Will & Emery

Stakers taxpayers involved in proof of stake (PoS) validation of blockchain transactions continue to operate in uncharted tax waters. PoS blockchains represent over half of the $1.68. ....

United States , Joshua Jarrett , Revenue Service , Us District Court , Us Department Of Justice , Tax Division , Mcdermott Will , Middle District , Internal Revenue Service , Virtual Currency Staking , Virtual Currency Mining ,

Court Decision Regarding Blockchain Staking Rewards

In Jarrett v. United States, a taxpayer paid tax on staking rewards and sued for a refund. IRS offered to refund the taxpayer’s money for taxes paid on staking rewards. The taxpayer rejected the IRS’s offer. We address the significance of the offer to refund the tax payment. ....

United States , Joshua Jarrett , Revenue Service , Us District Court , Us Department Of Justice , Tax Division , Middle District , Internal Revenue Service , Virtual Currency Staking , Virtual Currency Mining , Internal Revenue Service , Us District Court , Middle District Of Tennessee , Proof Of Stake , Axpayer Paid Tax On Staking Rewards ,

Court Decision Regarding Blockchain Staking Rewards

In Jarrett v. United States, a taxpayer paid tax on staking rewards and sued for a refund. IRS offered to refund the taxpayer’s money for taxes paid on staking rewards. The taxpayer rejected the IRS’s offer. We address the significance of the offer to refund the tax payment. ....

United States , Joshua Jarrett , Revenue Service , Us District Court , Us Department Of Justice , Tax Division , Middle District , Internal Revenue Service , Virtual Currency Staking , Virtual Currency Mining , Internal Revenue Service , Us District Court , Middle District Of Tennessee , Proof Of Stake , Axpayer Paid Tax On Staking Rewards ,