Jones Day Talks: Hard Forks and Airdrops: The IRS Issues Cryptocurrency Tax Guidance

JONES DAY TALKS®: Hard Forks and Airdrops — The IRS Issues Cryptocurrency Tax Guidance



The IRS’s first guidance on the taxation of cryptocurrency in five years provides some new insights, but also leaves several issues unresolved. Jones Day partner Lori Hellkamp discusses Revenue Ruling 2019-24, with particular attention to the tax treatment of “hard forks” and “airdrops,” tips for remaining compliant, and the remaining questions relating to the taxation of virtual currencies.