PANews reported on August 5th that, according to The Block , the White House Digital Asset Task Force recommended in a 168- page report that the IRS clarify the taxPANews reported on August 5th that, according to The Block , the White House Digital Asset Task Force recommended in a 168- page report that the IRS clarify the tax
White House report suggests Bitcoin miners may pay tax only on sales to avoid double taxation
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PANews reported on August 5th that, according to The Block , the White House Digital Asset Task Force recommended in a 168- page report that the IRS clarify the tax timing for Bitcoin mining profits, perhaps shifting to a tax accrual at the time of sale to avoid double taxation of "mining income tax and capital gains from sales." BitFuFu CEO Leo Lu stated that this move would significantly reduce the tax burden on miners and accelerate Bitcoin's popularization. Congressional bills such as HR 8149 have already proposed similar tax deferral schemes.
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