US lawmakers push to fix staking “double taxation” before 2026
US lawmakers urged the IRS to update crypto staking tax guidance to prevent double taxation before 2026.Summary
A bipartisan group of 18 US House lawmakers, led by Republican Mike Carey, sent a letter to the IRS acting commissioner urging a review and update of crypto staking tax guidance before 2026. The lawmakers argue that current rules impose an administrative burden and potentially over-tax unrealized gains by taxing staking rewards upon receipt and again upon sale. They advocate for taxing staking rewards only at the time of sale to reflect the actual economic gain. They assert that the current system discourages participation in staking, which is necessary for network security and American leadership in blockchain technology. Separately, Representatives Max Miller and Steven Horsford introduced a discussion draft proposing a deferral option for staking and mining rewards for up to five years instead of immediate taxation.
(Source：Cointelegraph)