Navigating IRS Rules for Crypto Transactions

ARTICLE | May 12, 2025

The world of cryptocurrency continues to capture the attention of mainstream investors and tech enthusiasts alike. News stories about Bitcoin, Ethereum, and the latest nonfungible tokens (NFTs) generate headlines, often highlighting large valuation swings and new commercial uses. While cryptocurrencies have opened the door to exciting possibilities, it is crucial to remember that they are not exempt from federal tax requirements. In fact, the Internal Revenue Service (IRS) has become increasingly vigilant in regulating digital assets. Together, these factors make understanding the tax implications of crypto transactions a vital step for anyone looking to invest or conduct business with these digital currencies.

Read the full article here.

Our firm provides the information for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. This article is not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided “as is,” with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.