The IRS was asked to clarify the position on forks and airdrop.

[Paha87]

Eight congressmen appealed to the us Tax service (IRS) with a request to clarify their position on cryptocurrency airdrops and forks.

Eight members of Congress have asked the IRS to fix its broken guidance on forks and airdrops. In October the IRS released long overdue answers to pressing questions about how Americans can properly calculate their taxes owed for various cryptocurrencies…

Among the signatories are Tom Emmer, bill foster, Darren Soto, lance Gooden, French hill, Matt Gaetz, Warren Davidson and David Schweickart. They asked the following questions:

Is the IRS going to clarify its position on forks and airdrops given their true nature? When is the Agency going to do that?
Will the IRS allow edits to the manual or refuse to consult with industry representatives?
Will the IRS publish standards by which the Agency will determine whether the taxpayer actually established control over the coins after the fork?
Congressmen consider the current IRS guidance on cryptocurrencies incomplete because it does not take into account The Ethereum hard fork and the emergence of Bitcoin Cash. The approach the Agency is taking now could lead to potentially unreasonable and unfair tax liabilities, the signatories said.

The group also asked the IRS to examine cryptocurrency derivatives, cryptocurrency-linked retirement accounts and cryptocurrency Deposit accounts.

Recall, this summer, Tom Emmer re-introduced a bill whose task is to determine the tax regulations in the context of forks and airdrops.

In August, Congressman Ted Budd proposed to withdraw cryptocurrency operations from double taxation.

The authors of another bill, the Token Taxonomy Act, proposed to exempt cryptocurrency transactions worth less than $600 from taxes.

The IRS released the new guidance in early October.

The original article here -https://forklog.com/nalogovuyu-sluzhbu-ssha-poprosili-razyasnit-pozitsiyu-po-forkam-i-ejrdropam/

[Goodcat49]

They are regulating ICOs, exchanges, now they are going to regulate airdrops and bounties? Nonsense.

[Paha87]

They are regulating ICOs, exchanges, now they are going to regulate airdrops and bounties? Nonsense.

this is just another story about how to do it and I don't expect them to get more than a thousand airdrops. This will have to create a special Department and it costs a lot of money.