From the Tax Law Offices of David W. Klasing — IRS Establishes that Staking Rewards Are Taxable Income in the Year Received

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IRVINE, Calif., Aug. 24, 2023 /PRNewswire/ — Cryptocurrency staking rewards are incentives earned by individuals who participate in the proof-of-stake (POS) consensus mechanism within blockchain networks. Stakers lock up some of their cryptocurrency holdings as collateral to support…

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