What Does Cynthia Lummis’ Crypto Tax Bill Really Mean for Miners & Stakers?

Quick answer: It delays taxes until you sell your coins, but in many cases, you could end up paying more to the IRS, not less.

👨‍⚖️ Clinton Donnelly, founder of CryptoTaxAudit and known as the “Crypto Tax Fixer,” explains why this bill matters and how it compares to current IRS rules for mining and staking. Using a $10K mining example, he shows the surprising difference between taxing coins at the moment you earn them versus when you eventually sell.

💼 In this video, you’ll learn:
- How the IRS currently taxes mining & staking rewards
- Why does the Lummis bill change when taxes apply
- The $10K mining example: IRS vs. Lummis side-by-side
- Why “taxing later” might leave you with a bigger bill
- What crypto investors should prepare for in 2025

🔥 Whether you mine Bitcoin, stake ETH, or just want clarity before tax season, this breakdown will save you from costly surprises.

📞 Book your crypto tax consultation here:
👉 https://www.cryptotaxaudit.com/crypto-tax-consultation

🔗 Official IRS Guidance on Virtual Currency:
https://www.irs.gov/businesses/small-businesses-self-employed/virtual-currencies

👍 Like, subscribe, and comment with your questions — Clinton’s team answers real crypto tax questions weekly!

⏱️ Timestamps
00:00 – Cynthia Lummis Digital Asset Tax Bill overview
00:20 – IRS current rules for mining and staking
01:00 – Why the IRS taxes coins at fair market value upon receipt
01:30 – Tax example: $10K mining reward + $20K gain later
02:00 – IRS tax burden ($5,400) vs. Lummis tax burden ($7,200)
02:40 – Pros and cons of taxing now vs. taxing later
03:10 – What this means for miners, stakers, and investors
03:40 – Clinton’s closing thoughts + advice

#CryptoTaxes #IRS #CynthiaLummis #CryptoMining #CryptoStaking #CryptoTaxBill #CryptoTaxAudit #CryptoTaxFixer

🎙️ About Clinton Donnelly
Clinton Donnelly, LLM, EA, is the founder of CryptoTaxAudit.com, the leading crypto tax and audit defense firm for U.S. taxpayers. Known as the “Crypto Tax Fixer,” he’s helped thousands of investors legally report their crypto holdings and defend against IRS scrutiny.

🏆 Award-Winning Expertise
In 2025, CryptoTaxAudit was named Cryptocurrency Taxation Services of the Year by Financial Services Review, recognizing Clinton’s unmatched reputation and legal precision in the crypto tax space. - https://www.financialservicesreview.c...

CryptoTaxAudit specializes in:
✅ Complex gain calculations and wallet tracking
✅ Expat and foreign disclosure compliance
✅ IRS audits, defense, and forensic tax strategies
✅ Bulletproof crypto tax returns designed to resist audits

📬 Work with the CryptoTaxAudit team:
👉 https://www.cryptotaxaudit.com/tax-prep-waiting-list

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📜 Disclaimer
The content in this video is for educational and entertainment purposes only. While we aim to provide accurate and up-to-date information about cryptocurrency taxation, this is not intended as legal, tax, or financial advice. Always consult with a qualified tax professional to ensure compliance with IRS regulations and accurate reporting of your cryptocurrency transactions.

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