The IRS has released rules detailing the taxation of hardforks and airdrops of cryptocurrencies, and they aren’t pretty. If you’ve used or invested in cryptocurrency, these changes could have significant tax consequences.
In 2018, the IRS announced a Virtual Currency Compliance campaign to start reining in non-compliance related to virtual currency transactions. By the end of August, over 10,000 taxpayers will have received a crypto letter. Have you received one?