Ephraim Olson, a US tax lawyer who specializes in crypto tax law, joins the show to discuss recent IRS guidance on crypto tax staking. The IRS releases sparse guidance on common crypto activities, like staking – oftentimes, this guidance fails to address nuance, and paints with broad strokes. Ephraim joins the show to present an alternate view on how crypto staking could potentially be treated in terms of taxation. More @ Talk.Bitcoin.Tax

In November 2023, the cryptocurrency trading platform Kraken has started sending specific crypto user data to the IRS. Alex Kugelman, a crypto tax controversy lawyer, joins the podcast to explain who is being targeted, why, and what to do if you are someone who’s data Kraken is sharing with the IRS.

Episode Link: https://talk.bitcoin.tax/kraken-sending-user-data-to-irs/

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The IRS released Revenue Ruling 2023-14 which describes cryptocurrency staking as taxable at the fair market value on the date it was received. Matt Metras joins the show to break down what this ruling means for crypto traders and how it may affect their taxes moving forward.

First time guest Ephraim Olson, a US tax lawyer who specializes in crypto tax law, joins the show to discuss opinion letters. The lack of guidance in the crypto tax space often puts taxpayers in a difficult position. Without official guidance from the IRS, there are a range of crypto activities that would benefit from further clarity. Opinion letters are written by lawyers to take a specific position on crypto tax activity – Ephraim explains how these letters can benefit taxpayers and why more people should be educated about these letters as a potential option to utilize.