The United States Internal Revenue Service (IRS) could stop taxing digital assets obtained through staking. The agency added that it will refund the tax paid by a Nashville couple on tokens they had earned via staking on the Tezos network.
IRS to Refund Tax Paid on Staked Tokens
According to a Forbes report on Thursday, the IRS noted that it will refund the $3,293 in income tax and statutory interest the couple paid on their staked 8,876 Tezos (XTZ) tokens.
In May 2021, the couple, Joshua and Jessica Jarret, filed a civil lawsuit with the U.S. District Court for the Middle District of Tennessee. They demanded a refund of the $3,293 income tax they paid in 2019 on 8,876 XTZ tokens acquired from staking.
The couple also insisted that they be compensated for lost income by a $500 increase in tax credits.
Staked Tokens Should Not Be Taxed
In the court filing, the Jaretts noted that tokens obtained through proof-of-stake protocols should be considered “new property” created by the taxpa
We współpracy z: https://cryptopotato.com/after-a-court-battle-the-irs-might-not-impose-income-taxes-on-unsold-staked-crypto/
