New IRS Rule in the U.S.: Stock rewards and pledge rewards are taxable, based on their value at the time of receipt

The U.S. Internal Revenue Service (IRS) has released a document stating that rewards obtained through staking via equity proof should be included in the tax for that year. The exact value should be calculated from the moment the user receives the token rewards.

IRS: Proof of Stake Rewards and Staking Taxable

The IRS has recently issued a document attempting to clarify when users should pay taxes on the rewards received from Proof of Stake (PoS) and staking.

It states that users should include the staking rewards in their taxes for the year they received them, with the exact value calculated at the moment the user receives the token rewards.

Furthermore, the IRS mentioned:

If a taxpayer receives cryptocurrency rewards for acting as a validating node or staking, the same rule applies to investors who stake through a cryptocurrency exchange on their behalf.

IRS's Next Target: NFTs?

In March of this year, the IRS sought public comments on "NFT taxation," addressing whether NFTs should be treated as collectibles for tax purposes and how to define and assess them.

The IRS stated that until new tax guidelines are issued, they intend to use a "look-through analysis" to determine when NFTs will be considered as collectibles. If the analysis determines that the rights or assets related to NFTs meet the definition of collectibles in tax law, NFTs will be treated as such.