Form W-2 reports an employee's wages and the taxes withheld, including wages paid in cryptocurrency, which are reported at fair market value on the payment date.
Employers must withhold income and payroll tax in dollars even when wages are paid in crypto, and the employee’s basis in the coins is the reported wage amount.
A crypto-native company that pays in tokens without withholding has a payroll tax problem that reaches its officers personally. Paying employees in crypto.
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Definitions are general information, not legal advice, and may not reflect the most recent changes in law.
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