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IRS Declares Crypto Staking Rewards Taxable Amid Lawsuit

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Summary
Nutrition label

80% Informative

IRS confirms crypto staking rewards are taxable as gross income when received, citing Revenue Ruling 2023-14.

Announcement comes amid an ongoing lawsuit filed by crypto investor Joshua Jarrett .

Jarrett contends that rewards earned through staking activities should not be treated as taxable income.

IRS states recipients gain both dominion and control’ over the tokens.

VR Score

77

Informative language

74

Neutral language

59

Article tone

formal

Language

English

Language complexity

64

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

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Known propaganda techniques

not detected

Time-value

short-lived

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