On December 20, eight members of the U.S. House of Representatives sent a letter to the Commissioner of the Internal Revenue Service (IRS)asking for clarification of tax obligations of airdrop participants and users of network forks.
In the letter, legislators draw the attention of the tax authoritiesto the lack of clarification for taxpayers on these issues. According to congressmen, previous clarifications on the taxation of cryptocurrency transactions do not address the topic of free distribution of tokens and forks of cryptocurrencies.
In particular, the equalization of currencies received inairdrop, to trade revenues “creates potentially unreasonable tax liabilities and administrative burdens for users of these important new technologies.”
The document also calls on the IRS in more detail.Explore a wide ecosystem of products and services related to the crypto industry, including futures, cryptocurrency accounts and interest bearing digital asset deposits.
According to congressmen, IRS guidance should cover all crypto transactions that are processed for tax purposes and provide clear information to taxpayers.
Recall that in mid-July, the US taxbegan to send letters to thousands of owners of bitcoins and altcoins who did not inform the authorities about cryptocurrency transactions. The IRS letters contained instructions for paying taxes, interest, and fines.
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