In October of 2019, the U.S. Internal Revenue Service issued the first new guidance on the taxation of cryptocurrency transactions in over five years (the “Guidance”). The Guidance comprising a revenue ruling (Rev. Rul....more
12/12/2019
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Cryptocurrency ,
Distributed Ledger Technology (DLT) ,
FBAR ,
Foreign Financial Accounts ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
New Guidance ,
Revenue Rulings ,
Tax Cuts and Jobs Act ,
Virtual Currency
The first official guidance on the taxation of cryptocurrency transactions in more than five years has been issued.
The guidance includes both a Revenue Ruling (Rev. Rul. 2019-24, 2019-44 I.R.B. 1) and answers to...more
10/18/2019
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Capital Gains ,
Cryptocurrency ,
Distributed Ledger Technology (DLT) ,
Ether ,
Ethereum ,
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Income Taxes ,
IRS ,
New Guidance ,
Peer-to-Peer ,
Revenue Rulings ,
Transfer Taxes ,
Virtual Currency