The Internal Revenue Service hasn’t offered specific guidance regarding whether cryptocurrency staking constitutes taxable income upon receipt, leaving those engaged in the activity, which implicates substantial sums of potential government revenue, unsure about their tax obligations.
“There are a lot of people that use Tezos,” Evan Davis of Hochman Salkin Toscher Perez PC told Law360. The IRS is “buying a big problem if they think that they can just sweep it under the rug — people who own Tezos are no doubt exchanging information about this case.”
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