The IRS reiterates that staking rewards constitute taxable income at the time they are received.

The Internal Revenue Service (IRS) of the United States reiterated that staking rewards constitute taxable income at the time they are received, opposing the legal challenge by Joshua Jarrett and his wife to defer taxation on staking rewards. According to IRS Revenue Ruling 2023-14, staking rewards should be reported as income based on their fair market value at the time of receipt. The Jarretts argue that staking rewards should be considered new property and taxed only upon sale, and therefore filed a lawsuit seeking a refund of the related taxes and a permanent injunction against the IRS's current tax policy. (Cointelegraph)