Wednesday February 23, 2022 – We focus on Blockchain Technology, including cryptocurrency, Non Fungible Tokens (NFT), & Decentralized Autonomous Organizations (DAO) every Tuesday in this space – we call it Crypto Tuesday.
Every once in a while a Cryptocurrency and IRS story pops up on a day not Tuesday. A story so relevant we don’t want to wait until next Tuesday to cover.
Such is the Story today in Forbes “How The IRS Is Looking For Its Share Of Cryptocurrency And NFT Growth” by Lynn Mucenski Keck. The mix of blockchain technology and the IRS reaction to these assets is of the utmost importance in this tax season.
There is also an important IRS story following up on the ID.me controversy. The IRS announced they were scrapping the facial recognition requirement. As of today, the requirement for a selfie and a government document still are in place. The IRS now says they will “transition away” for the biometric requirement.
Attorney Steven A. Leahy reviews these stories and shares his reaction.