Events & News

IRS issues guidance, seeks comments on nonfungible tokens

IRS issues guidance, seeks comments on nonfungible tokens

IR-2023-50, March 21, 2023

WASHINGTON — The Treasury Department and the Internal Revenue Service today announced that they are soliciting feedback for upcoming guidance regarding the tax treatment of a nonfungible token (NFT) as a collectible under the tax law. Today’s guidance also requests comments on the treatment of NFTs as collectibles and describes how the IRS intends to determine whether an NFT is a collectible until the further guidance is issued. Read More 

More Posts

More Posts

Discover more from Greg Homesley, CPA

Subscribe now to keep reading and get access to the full archive.

Continue reading