Congress press IRS for cryptocurrency tax clarification

Members of the United States (U.S) congress sent a letter to the Internal Revenue Service (IRS) urging the agency to provide additional clarity on cryptocurrency tax laws. This letter followed one sent earlier to the IRS in April urging the issuance of guidance for taxpayers who use cryptocurrencies to pay taxes. IRS originally came out with an official ruling on cryptocurrency tax expectations on Oct. 9, 2019, according to reports. The ruling noted several points of taxation, including a tax on holders in the event of a cryptocurrency fork or airdrop, regardless of the circumstance. The recent letter faults the