The IRS is confused about how to tax NFTs, and it needs your help

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It’s taxing to be in uncharted waters.

If 2021 was the year that non-fungible tokens (NFTs) shot to the moon, and 2022 was the year they crashed back down to Earth, then 2023 might be the year that government officials finally begin to untangle the wreckage. While regulatory bodies are zeroing in on crypto crimes like securities fraud and insider trading, and putting crypto giants like Kraken and Paxos in their crosshairs, the Internal Revenue Service (IRS)—diligent as ever—is concerned with the matter of just how big a cut it should take from your NFTs.

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