IRS Offers Guidance on NFTs

IRS Offers Guidance on NFTs: The notice states that the IRS will look to see what the NFT actually represents (i.e., its rights and benefits), to determine its characterization – a result that most tax practitioners practicing in the digital asset space had been pushing for, according to Tony Tuths, Digital Asset Practice Leader and principal in Alternative Investments, Tax – KPMG LLP. For more free videos to help you with tax planning, please visit the finStream Tax Planning Center at this link: https://www.finstream.tv/videos/tax-planning/