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Technology Solutions

Richey May Technology Solutions provides the full spectrum of transformative solutions for your business.

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Business Advisory

Specializing in Mergers & Acquisitions, management reporting and operational improvements for you business.

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Technology Solutions

Richey May Technology Solutions provides the full spectrum of transformative solutions for your business.

Learn More

Business Advisory

Specializing in Mergers & Acquisitions, management reporting and operational improvements for you business.

Learn More

Contact Us

Richey May Headquarters
9605 S. Kingston Ct. Suite 200
Englewood, CO 80112
Directions
303-721-6232

Question or comments?  Click here to fill out our inquiry form.

Technology Solutions

 

Richey May Technology Solutions provides the full spectrum of transformative solutions for your business.

Learn More

Business Advisory

Specializing in Mergers & Acquisitions, management reporting and operational improvements for you business.

Learn More

Technology Solutions

 

Richey May Technology Solutions provides the full spectrum of transformative solutions for your business.

Learn More

Business Advisory

Specializing in Mergers & Acquisitions, management reporting and operational improvements for you business.

Learn More

Contact Us

Richey May Headquarters
9605 S. Kingston Ct. Suite 200
Englewood, CO 80112
Directions
303-721-6232

Question or comments?  Click here to fill out our inquiry form.

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Richey May Headquarters
9605 S. Kingston Ct. Suite 200
Englewood, CO 80112
Directions
303-721-6232
Alternative Investment

IRS Releases New Guidance on Transactions Involving Virtual Currency

Articles by: Richey May, Oct 11, 2019

October 2019

Earlier this week the IRS released new guidance on crypto hard forks and airdrops. A hard-fork which results in an airdrop of new crypto cannot be treated like a stock split. According to Rev. Rule. 2019-24 the value of the newly airdropped cryptocurrency should be recognized immediately as ordinary income.

“A taxpayer has gross income, ordinary in character, under § 61 as a result of an airdrop of a new cryptocurrency following a hard fork if the taxpayer receives units of new cryptocurrency.”

To read the new guidance in its entirety visit https://www.irs.gov/pub/irs-drop/rr-19-24.pdf.

If you have any questions about how this new guidance impacts your business, or about the alternative investment services Richey May provides to the industry, please reach out to your Richey May tax professional or contact Stephen Vlasak