Tagged: Steven Chung

The tax authorities are seeking public comment on whether they should tax NFTs as works of art

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March 22, 2023

The tax authorities are seeking public comment on whether they should tax NFTs as works of art

Yesterday, the IRS announced that it is requesting comments on how to treat non-fungible tokens (NFTs) for tax purposes. More specifically, it considers whether to treat...

Prosecution of cryptocurrency and NFT fraudsters may increase so victims can benefit from enhanced tax benefits

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November 9, 2022

Prosecution of cryptocurrency and NFT fraudsters may increase so victims can benefit from enhanced tax benefits

The phenomenal rise in Bitcoin’s value from 50 cents in 2011 to nearly $65,000 last November has resulted in the creation of many copycats. By 2022,...