ConsenSys Backs Lawsuit Against IRS Over Taxing Staked Crypto

ConsenSys Backs Lawsuit Against IRS Over Taxing Staked Crypto

From decrypt.co

Crypto software giant ConsenSys will financially support an ongoing lawsuit challenging the IRS’ ability to tax staking rewards, the company announced Tuesday. In 2021, Joshua and Jessica Jarrett sued the IRS to recover federal income taxes levied on the Tennessee couple’s stake-generated Tezos, arguing that self-generated staking rewards could not be considered taxable income under federal law. Mid-way through the lawsuit, the IRS offered to issue the Jarretts their requested refund, but the plaintiffs refused, eager to get assurances from a court that the issue wouldn’t arise in the future. No such assurances ... (full story)

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