The IRS reaffirms that staking rewards constitute taxable income at the time they are received and opposes the legal challenge by Joshua Jarrett and his wife to delay the taxation of staking rewards. According to IRS Revenue Ruling 2023-14, staking rewards should be reported as income at their fair market value when received. The Jarretts argue that staking rewards should be treated as new property, taxable only upon sale, and have therefore filed a lawsuit seeking a refund of the related taxes and a permanent injunction against the IRS's current tax policy. (Cointelegraph)