How to pay taxes on staked ETH?

Could you please explain to me in detail how exactly do I pay taxes on staked ETH? I'm a bit confused about the process and want to ensure I'm following all the necessary steps correctly. Are there any specific forms or declarations I need to fill out? Also, how does staking ETH affect my tax liability? Is there a certain tax rate applied to staking income? And are there any exemptions or deductions I can claim to reduce my tax burden? Thank you for clarifying these points for me.