🚀 Hot crypto news: IRS confirms staking rewards are taxable income upon receipt, not new assets. This is causing controversy with the lawsuit of Joshua & Jessica Jarrett regarding 13,000 Tezos tokens. 🧐

- IRS requires reporting the market value of staking rewards as soon as they can be sold or exchanged.

- The Jarretts argue that staking rewards should be considered assets, only taxable when sold.

- The lawsuit could set a precedent for how digital asset taxes are handled in the U.S.

What do you think about this decision by the IRS? Share your thoughts in the comments! 💬