House Republicans Introduce 7 Crypto Tax Bills Ahead of Key Hearing
By
Sander Lutz
Crackling crust, pillowy middle. The kind of bagel that earns a second cup of coffee.
Summary
House Republican leadership has introduced seven new crypto tax bills covering de minimis exemptions, tax treatment of staking and mining rewards, and an IRS safe harbor for unreported crypto gains. These are the first tax-focused crypto bills to be deliberated by congressional leadership, and they will be discussed at a House hearing next week.
Key quotes
· 3 pulledThe bills cover a wide range of hot-button issues, including de minimis exemptions, the tax treatment of crypto staking and mining rewards, and an IRS safe harbor for prior failures to report crypto gains.
They mark the first time congressional leadership in either the House or Senate has moved forward with tax-focused crypto legislation, despite the fact that bills on the subject have previously been floated in both chambers.
House Republican leadership has begun circulating seven new crypto tax bills that will take center stage at a key hearing next week.
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