US Internal Revenue Service: Crypto rewards received after account freeze still subject to taxation
--
According to News.bitcoin, the US Internal Revenue Service (IRS) released a memo in October stating that despite account freezes, cryptocurrency rewards received will still be subject to taxation in the year they are received, even if the holders are unable to use their funds in the future. The guide has been sent to Michael R. Fiore of the IRS Small Business/Self Employed Division, which examines a hypothetical taxpayer (referred to as "Taxpayer A") who holds cryptocurrency in an account on a bankruptcy platform and received rewards such as staking bonuses before the account was frozen.