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Cryptopolitan 2019-10-09 18:07:59

IRS cryptocurrency Tax guidelines are finally here for hard forks

Internal Revenue Services (IRS) has finally revealed the IRS cryptocurrency Tax guidelines in the wake of cryptocurrency hard forks. A recent issue by the United States Internal Revenue Service aimed to initialize new ruling- “Revenue Ruling”. Applicable for the years 2019-2024, it primarily addresses two questions, followed by a six-page evaluation answering those questions. The issue was published to address the taxes levied owed to a cryptocurrency diversion of network protocol- in technical terms, a “hard-fork”. IRS cryptocurrency Tax guidelines for a hard fork The questions asked were as follows: 1) In case a taxpayer does not receive units of

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