For US-based crypto owners, the IRS set out its updated guidelines on crypto taxation. The taxman riled up social media, after setting out guidelines that counted coins from a hard fork as income.
The IRS set out the usual rules for counting tax gains or losses when an actual sale occurs. For that reason, it is highly confusing that coins received in a hard fork, even if not sold, would be counted as income. The IRS did spell out that only coins that are controllable should be taxable. But the crypto community was still confused about the taxable value of forked coins.
