Print this page

Estimated reading time: 0 minutes, 27 seconds

IRS Issues Guidance on Cryptocurrency Earned from 'Microtasking'

The IRS issued new guidance indicating cryptocurrency earned from crowdsourcing-based microtasks should be categorized as taxable income. So reports The Block Crypto.

income tax 4097292 640The memo came in response to an inquiry from the Small Business/Self Employed Division and offers a “window into the depth of the IRS's thought process in this area,” even if this income represents only a fraction of the IRS purview. Some of the tasks generally covered under the guidance include data processing, posting a positive review and completing online quizzes.

Read the full article from The Block Crypto.

Read 6004 times
Rate this item
(0 votes)