US Senate to hold hearing on crypto taxes as IRS offers relief on corporate tax

The US Senate Finance Committee volition clasp a proceeding Wednesday connected cryptocurrency taxation, a time aft the Treasury Department and Internal Revenue Service (IRS) issued interim guidance easing firm crypto taxation rules.

The Treasury and IRS connected Tuesday issued interim guidance aimed astatine easing compliance nether the Corporate Alternative Minimum Tax (CAMT), including for companies operating successful the integer assets sector.

Signed into instrumentality nether erstwhile President Joe Biden arsenic portion of the Inflation Reduction Act of 2022, CAMT imposes a 15% minimum taxation connected the fiscal connection income of ample corporations.

The 2 pieces of the latest interim guidance, Notice 2025-46 and Notice 2025-49, mean to “reduce compliance burdens and supply clarity connected analyzable areas of the CAMT” until last regulations are issued.

Excluding unrealized gains

One of the guidance documents, Notice 2025-49, provides guidance connected applying the CAMT nether Sections 55, 56A and 59 of the Internal Revenue Code.

It peculiarly details amendments to Adjusted Financial Statement Income (AFSI), allowing integer plus companies to exclude unrealized gains and losses connected integer assets held arsenic just worth assets from CAMT income.

An excerpt from the Notice 2025-49. Source: IRS

“Depending connected the applicable fiscal accounting principles, this interim guidance whitethorn use to holdings of integer assets,” Notice 2025-49 states.

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According to writer Eleanor Terrett, companies similar Michael Saylor’s Strategy — which holds much than 640,000 Bitcoin (BTC) with $13.5 cardinal successful year-to-date unrealized gains — would person faced billions successful CAMT liability without relief.

Strategy’s Bitcoin metrics. Source: Strategy

Senate proceeding connected integer plus taxation

The latest guidance from the IRS came a time earlier the Senate proceeding connected “Examining the Taxation of Digital Assets” connected Wednesday.

The hearing volition beryllium led by the Finance Committee’s Chair, Mike Crapo, with the information of Coinbase vice president of taxation Lawrence Zlatkin and Coin Center argumentation manager Jason Somensatto.

The proceeding follows the White House Digital Asset Working Group’s crypto recommendations successful July, which urged lawmakers to admit crypto arsenic a caller plus people and set taxation rules for securities and commodities to integer assets.

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