Senator Todd Young is urging the IRS to review its 2023 guidance that taxes crypto staking rewards when they are received rather than when they are sold.
Digital asset advocates argue this forces taxpayers to pay taxes on income they have not realized, especially when token prices fluctuate.
Young has asked the IRS to explain how it formed the 2023 decision and whether it plans to revise or clarify the rules.
The Trump administration also recommended re-evaluating the guidance in a recent report.
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