IRS was forced to refund taxes paid by couple who applied for staking (Yuji Sakai/Getty Images)
The IRS will have to reimburse a couple who in 2019 paid US$3,293 in taxes for the possession of 8,875 Tezos tokens, obtained through the process of staking.
The decision follows a lawsuit filed by an American couple against the IRS in May 2021, which ruled that tokens generated from the staking – process in which the investor makes his assets available for use by third parties, via smart contracts, and receives interest payments for this – should not be considered as income, but as “new property” created by the taxpayer.
In order for them to be considered a source of income, and therefore liable to charge, the tokens in stake would have to have been sold and, until that happens, are not taxable.
The unprecedented measure has caused an uproar in the staking of the US, estimated at 18 billion dollars. To date, however, the agency has not made any official declaration or made any changes to its regulation, which still asks the taxpayer if, at any time of the year, he “received, sold, exchanged, or had any appreciation of any kind whatsoever.” of asset”.
With the season of open tax return Americans, many questions begin to emerge. In a document dated December 21, 2021, the IRS defined “any transaction involving a virtual currency” as one that includes “receiving a new virtual currency as a result of mining activities and staking”, going directly against this week’s court ruling.
In Brazil, since the beginning of last year, new rules and a new code are in place for income tax, and the possession of more than R$5,000 in digital assets must be declared. taxpayers who declared
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