CryptoTaxGuy
@CryptoTaxGuyETH
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Jason Schwartz, tax partner @ CahillNXT. Art appreciatoor. Tweets are not advice. [email protected]
Washington, DC
Joined December 2021
1. Here's a link to all my crypto tax articles: https://t.co/XEjetFZK2F. 2. In addition to my day job, writing & speaking engagements, I oversee the 501Foundry, a web3-friendly pro bono 501(c)(3) incubator. Reach out if you have a charitable purpose.
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Sounds like Dems are serious…about reminding crypto why it didn’t vote for them the last election. Interesting strategy.
1/ Senate Democrats are trying to kill market structure. A group just sent a counter-proposal to the RFIA and it is deeply unserious. These Senators claim to be pro-crypto, but what they propose is basically a crypto ban. It's hard to imagine a good deal happening right now 🧵
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Honored to be speaking again at the @FordhamCrypto Symposium tomorrow, consistently the best crypto legal event of the year notwithstanding my participation. Looking forward to seeing some of you there.
Look forward to seeing folks at the @FordhamCrypto Symposium tomorrow. While we lost a few heavyweights to the shutdown (Hester, Selig, Daly), we’re pleased to confirm that Chair Atkins will close the symposium with a fireside. Big thanks to all the sponsors.
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One of my all-time favorite works. It’s surreal to think that I own it.
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TAX NEWS TLDR Previously, it seemed large corps (eg, MSTR) needed to add mark-to-market crypto gains in calculating their 15% corp alternative minimum tax. Notice 2025-49 says they don’t, so long as they don’t mark-to-market for tax purposes (they usually don’t). Good.
This is wrong IRS Notice 2025-49 offers additional interim guidance on the Corporate Alternative Minimum Tax (CAMT) under IRC sections 55, 56A, and 59, building on prior proposed regulations by addressing AFSI adjustments for scenarios like regulated operations under ASC 980,
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I was happy to contribute to this important discussion on where tax clarity is needed in the digital assets space. Thank you to @AlexanderGrieve and @AMangiero for including me.
Yesterday @SenateFinance held a hearing on crypto tax. Today, @AMangiero & I published this article to underscore the importance of Congressional action on the subject. GENIUS is done, market structure is in process. But tax clarity is a key component, and Congress must act.
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He’s right. For the first 4 yrs of my career, I got an LLM (tax law masters) on wkends…plus biglaw work. For the next 4 yrs, I wrote a tax treatise…plus biglaw work. Brutal for my emotional wellbeing, but I made partner 2 yrs early 🤷. I still work on wkends.
Alot of younger ppl ask me how to ‘get ahead’ in their career. The first answer is: work on weekends. There are lots of their answers, but if that’s what you really / actually want (to get ahead) that’s the gating q, and a.
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I talked about this plenty, both online (here on X) and on panels…and pointed out that people who self-custody don’t need to fret.
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Have you seen a lot of noise on your timeline saying you have to do something by Jan 2025 or else your crypto basis reporting will be messed up? Guess what: that noise is probably wrong.
You think crypto taxes were hard to pay before, get ready for a whole new level of tax hell come 2026. Starting in April 2026, you will have to track your cost basis for your assets ON A WALLET BASIS rather than universally across all your wallets. This was announced by the
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7/ Thank you to Treasury for engaging with the public on these and other issues relating to digital assets taxation. Here is a link to the ANPRM:
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6/ - Borrowers of stables are not subject to the tax code’s various interest deduction limitations (such as the excess business interest expense and applicable high yield discount obligation rules).
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5/ - Stablecoin lenders are not subject to the original issue discount rules that apply to fiat loans. As a result, cash-method stablecoin lenders do not have to accrue deferred interest in income like cash lenders would.
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4/ - Custodians that dispose of stables on behalf of customers often must send 1099s to those customers, or at least track all stablecoin transactions by those customers to determine whether a de minimis exception applies.
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3/ - Taxpayers who use stables to make purchases recognize taxable gain or loss, often measured in fractions of a cent, on those purchases.
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2/ The current US tax treatment of stables as property, instead of as cash, can lead to strange and unfortunate results for both taxpayers and the government, including:
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GENIUS ACT ANPRM Treasury has issued an advanced notice of proposed rulemaking requesting comments on the implementation of stablecoin legislation known as the GENIUS Act, including tax comments. The public has 30 days to respond. A few very brief thoughts (1/7)…
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Sage advice.
guys, please, turn off video autoplay in this app ASAP i now feel like i must spread this message to hep save some of your sanity people in my mentions say they are being traumatized by what they’ve seen here recently you simply cannot leave such functionality on for a site
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Really honored to add this one to the vault. Claire and m0dest are two of the most exciting artists in this space right now, and this work showcases their unique skills while feeling cohesive in a way that eludes many other collaborations. Watch with volume up. 🖤
☽⟡☾ < born to push back > a collaboration with @ClaireSilver12 eighty seven co-created scenes 2 pieces of co-created original music and effects this Thursday. mechanics announced tomorrow. so fucking proud of this work. thank you claire 🖤 please enjoy
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DEVELOPMENTS IN DEFI 2025 Great event coming up this Friday. Among other panels, @NYcryptolawyer, @LDC917, and I will discuss: - When a legal entity is needed - Legal "wrappers" vs. legal "bridges” - Cayman foundations, US foundations, and DUNAs Registration link below.
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I really enjoyed helping to curate this drop. The amount of talent in this space is unbelievable.
The Digital Asset Museum Presents… DAM PACKS: 2025 The first-ever booster pack experience from @theDAMmuseum A curated snapshot preserving the energy and style of 99 artists in this moment. Now live: ➡️ https://t.co/661osdbpEB
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