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IRS Seeking Comments on NFT Treatment

  • 1.  IRS Seeking Comments on NFT Treatment

    Posted 03-21-2023 09:15 AM
    Here are snippets from a recent IRS notice:

    IRS issues guidance, seeks comments on nonfungible tokens

    WASHINGTON - The Treasury Department and the Internal Revenue Service today announced that they are soliciting feedback for upcoming guidance regarding the tax treatment of a nonfungible token (NFT) as a collectible under the tax law. Today's guidance also requests comments on the treatment of NFTs as collectibles and describes how the IRS intends to determine whether an NFT is a collectible until the further guidance is issued.


    In Notice 2023-27, the Treasury Department and the IRS are requesting comments on any aspect of NFTs that might affect the treatment of an NFT as a collectible as well as certain comments specifically set out in the notice.


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