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Week’s Best: Crypto and Your Taxes

·2 min read
Week’s Best: Crypto and Your Taxes

With valuations of cryptocurrencies surging—the “joke” token Dogecoin is up 49,000%—clients need to face the tax implications of their digital assets. Regardless of what President Biden’s ultimate budget bill looks like, we know it will include numerous and significant tax changes. It’s far from a certainty that President Biden’s ambitious Build Back Better bill will make it into law, but should the social-spending and climate-change package cross the finish line, there are already a few mechanisms to pay for it that will likely survive the final negotiations.