News

 Stay up to date on what's happening!

Cryptoassets: How should proof-of-stake rewards be taxed?

  • April 1, 2022

Cryptoassets have increasingly proved to be a significant disruptive force across several industries, from financial services to energy and the arts. In light of the lack of guidance from the IRS and Treasury, the case for deferred recognition of income for staking rewards has recently gained traction. Continue Reading

Cryptoasset accounting: Tips for common scenarios

  • January 26, 2022

The question of how to account for digital assets has emerged as a challenging one for accountants as use of these assets becomes increasingly common.Although accounting for exchange-traded digital assets and commodities was added to FASB's research agenda in December, authoritative guidance on this topic doesn't seem imminent. Continue Reading

Tax Strategy: The taxation of NFTs

  • January 3, 2022

As NFTs have quickly grown in popularity, the need for tax guidance has risen as well. While the tax treatment of cryptocurrency and intangible assets likely lay a framework for NFT guidance, it remains unclear how much of it applies. Continue Reading