March 25, 2022

IRS Taxation of Staking Rewards

As a team, we have been focusing on virtual asset taxation from a US perspective  – The IRS has not issued any clear guidance on the taxation of staking rewards. In 2014, the IRS issued Notice 2014-21, which provides that cryptocurrency is treated as property for federal tax purposes, but Notice 2014-21 and subsequent Revenue …

IRS Taxation of Staking Rewards Read More »

Doing Business in California

Whether or not a CA state return and the $800 payment is due is a function of whether the entity has any nexus with CA.  Particularly whether, as per R&TC § 23101, (b) (1) – (1) The taxpayer is organized or commercially domiciled in this state. California defines “doing business” as “actively engaging in …

Doing Business in California Read More »