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State Tax Issue — crypto staking rewards taxable when received

Started by SeniorDevMike_PDX · Feb 15, 2024 · 2,448 views · 12 replies
For informational purposes only. This is not legal advice. Laws vary by jurisdiction. Consult a qualified attorney for advice specific to your situation.
SM
SeniorDevMike_PDX OP

I'm in a difficult situation and trying to figure out my next steps.

crypto staking rewards taxable when received. I've been dealing with this for about 5 weeks now and the situation isn't improving.

I have already tried to resolve this directly but did not get a clear answer.

Am I overthinking this or is this a real legal issue worth pursuing?

TC
throwaway_creator_question

Following this thread — I'm in a very similar situation. Would love to hear how it turns out.

SA
seeking_advice_renter_legal

I had a similar issue and ended up consulting with an attorney. It was worth the $200-300 for the initial consultation just to understand my rights.

EA
EstatePlanner_AZ

I've seen this play out several times in my field.

In my case, it took about 4-8 months to resolve. The key was filing with the appropriate government agency.

TL
Mod_TermsLaw Moderator

Attorney here. Here's my take on the legal issues.

The legal framework here involves both federal and state law. At the federal level, the relevant statute. Your state may provide additional protections.

The practical consideration here is cost vs. potential recovery. For disputes under $10K, small claims court is often the best route.

AT
anon_tenant_WA

This happened to me too. Have you tried filing a complaint with the relevant agency? In my case they investigated and it got resolved without needing a lawyer.

DN
DataPrivacy_Nerd

Been there. Here's what I learned.

What worked for me was hiring an attorney to send the initial letter. It took 2-4 months but was worth it.

FT
first_time_seller_OH

This happened to me too. Have you tried filing a complaint with the relevant agency? In my case they investigated and it got resolved without needing a lawyer.

GL
GigWorker_LA

Not a lawyer, but I have direct experience with this.

I ended up hiring an attorney to send the initial letter, which cost about $2-4 but saved me a lot more in the long run.

NH
need_help_driver_advice

Just want to point out — the statute of limitations might be a factor here. In some states it's as short as 1-2 years. Don't sit on this too long.

FT
first_time_parent_CA

I work in this industry and unfortunately this is very common. The good news is that when people actually push back with legal representation, companies usually settle.

VA
VCAnalyst_SF

Been there. Here's what I learned.

What worked for me was having everything documented. It took 3-6 months but was worth it.

AD
anon_driver_legal

Just want to point out — the statute of limitations might be a factor here. In some states it's as short as 1-2 years. Don't sit on this too long.

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