The U.S. Internal Revenue Service is attempting to clarify how the murky area of non-fungible tokens (NFTs) should be classified for tax purposes. Yesterday (March 21), the IRS and the U.S. Treasury ...
The Internal Revenue Service looks likely to begin taxing some NFTs in line with tangible collectible assets, such as works of art, precious metals, and rare coins. In a notice released on March 21 ...
The U.S. Treasury Department and the Internal Revenue Service are considering treating non-fungible token art as collectibles under the tax law, according to an announcement on Tuesday. Non-fungible ...
The IRS in Notice 2023-27 announced it intends to issue guidance on the treatment of nonfungible tokens (NFTs) as collectibles. The Service also described how, until that guidance is issued, it will ...
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Here's How Collectibles Are Taxed
Collectibles have received a lot of attention in the last year or so, especially considering Costco's entry into the precious metals market. For instance, you probably heard that the retail giant ...
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