CryptoTaxGuy 🎩

A look at the not-yet-public draft tax legislation to be included in the Trump megabill.

PSA: Airdrops from the U.S. are still a big tax risk. https://paragraph.xyz/@cryptotaxguy.eth/psa-airdrops-from-us-are-still-a-big-tax-risk

A look at why the wash sale rules generally don’t - and shouldn’t - apply to crypto. https://paragraph.xyz/@cryptotaxguy.eth/preview/6oBIO8BSfIiSlAPowND3

Treasury Decision 10021 would treat websites as brokers with 1099 reporting obligations. The regulations are arbitrary and capricious, and should be withdrawn. https://paragraph.xyz/@cryptotaxguy.eth/criticisms-of-the-new-crypto-broker-reporting-regs-are-entirely-justified

Crypto tax reporting: current state of play I can tell people are confused. This thread summarizes the current state of play in 7 short posts. Post 7 provides the carefree option that I personally use. https://paragraph.xyz/@cryptotaxguy.eth/tax-reporting-current-state-of-play

IRS TARGETS FRONT ENDS IN FINAL BROKER REPORTING REGS On Friday, Treasury and the IRS published “part 2” of the final crypto broker reporting regs. This post summarizes the regs. https://paragraph.xyz/@cryptotaxguy.eth/irs-targets-front-ends-in-final-crypto-broker-reporting-regs

UNIVERSAL WALLET REPORTING LIVES ON (FOR SELF-CUSTODIED CRYPTO) The noise to the contrary is wrong. This Paragraph post explains. https://paragraph.xyz/@cryptotaxguy.eth/universal-wallet-reporting-lives-on-for-self-custodied-crypto

Congrats degens.

On Monday, a court in the Northern District of California denied a motion to dismiss a lawsuit against LidoDAO that asserted some or all LDO governance tokenholders are jointly and severally liable for the DAO's actions. I've provided some preliminary (largely stream-of-consciousness) thoughts on the decision here. https://paragraph.xyz/@cryptotaxguy.eth/some-thoughts-on-the-lido-decision

A Crypto Tax Wish List for the Incoming Administration Every crypto lawyer should be thinking about and socializing what the top legislative asks of their practice area would be from the incoming Trump administration. Here are some US tax asks. This is a discussion draft I'm sharing with my network. I'm open to hearing other asks. https://paragraph.xyz/@cryptotaxguy.eth/us-tax-asks-discussion-draft

One of my faves.

My initial review of @whitewalls app. TLDR: game changer. https://x.com/cryptotaxguyeth/status/1811474899829162016?s=46&t=2AHE36ymwSw-fHbouQDHjg

CRYPTO BROKER REPORTING REGS FINALIZED On Friday, June 28, Treasury and the IRS issued final regs under tax code section 6045 requiring custodial brokers to report dispositions of digital assets to the seller and the IRS on Form 1099-DA. This post is my first cut at summarizing the key points.

For better or worse, much of society expects the dad to: - Be the primary breadwinner. - Sacrifice his own wellbeing for women and children. - Remain stoic through adversity. Kudos to those who’ve found peace either inside or outside the status quo. Both paths are hard. Happy Father’s Day

Some more nondigital art from my collection. S’envoler en premiere quand meme attire en sous sol (1967) by Jacqueline de Jong. This work on paper launched a series inspired by erotic postcards the artist’s lover used to send her. It hung in her studio until I acquired it. ❤️

X-post. Good reminder of the diff btw decentralized and autonomous. Ppl often reflexively pair the words but they aren't synonyms and can exist independently of each other. Each can further be elaborated on but this is a good primer. https://x.com/lex_node/status/1799507542420144250?s=46&t=2AHE36ymwSw-fHbouQDHjg

PSA: I just kicked off an auction for a @diane-lindo 1/1 on @superrare. But if you don’t have 2 ETH at your disposal to outbid me, there are still a few tokens available from Diane’s latest 1/15 edition, shown below (🔊). https://app.manifold.xyz/c/decisions111

Honored to be ranked among the nation's top tax attorneys for the fourth straight year. I'm no longer "up and coming," which must mean I'm not far from "over the hill." Many thanks to the clients who were willing to speak to Chambers on my behalf.

My musings on recent crypto politics.

I love vacationing in the Caymans. - Only 3.5 hrs from DC. - Pristine beaches. - Great community of crypto native legal service providers. - Exquisite restaurants. - Kid friendly. - Higher ETH price.