Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of February 26, 2024 – March 1, 2024. ...more
3/7/2024
/ Business Taxes ,
Corporate Taxes ,
Cryptocurrency ,
Digital Assets ,
Electronic Filing ,
Filing Requirements ,
Income Taxes ,
Tax Deductions ,
Tax Reform ,
Tax Refunds ,
Tax Returns
During a recent program discussing the latest government enforcement efforts related to cryptocurrency, we spoke with Gary Alford, one of the leading Internal Revenue Service (IRS) agents in their crypto enforcement efforts,...more
7/28/2021
/ Continuing Legal Education ,
Criminal Investigations ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Income Taxes ,
Investors ,
IRS ,
Law Enforcement ,
Search Warrant ,
Serious Fraud Office (SFO) ,
Subpoenas ,
Tax Evasion ,
Tax Fraud ,
Tax Liability ,
Tax Returns ,
UK ,
Virtual Currency ,
Voluntary Disclosure ,
Whistleblowers
Following the US Internal Revenue Service’s (IRS) announcement of “Operation Hidden Treasure,” companies and individuals should prepare for increased scrutiny of virtual currency transactions. Unveiled in March, the operation...more
6/15/2021
/ Continuing Legal Education ,
Criminal Investigations ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Income Taxes ,
Investors ,
IRS ,
Law Enforcement ,
Search Warrant ,
Serious Fraud Office (SFO) ,
Subpoenas ,
Tax Evasion ,
Tax Fraud ,
Tax Liability ,
Tax Returns ,
UK ,
Virtual Currency ,
Voluntary Disclosure ,
Webinars ,
Whistleblowers
The Biden Administration and the Internal Revenue Service (IRS) continue to focus heavily on cryptocurrency tax enforcement issues. On May 20, 2021, the US Department of the Treasury (Treasury) released the American Families...more
5/27/2021
/ Biden Administration ,
Cryptoassets ,
Cryptocurrency ,
FBAR ,
IRS ,
Proposed Legislation ,
Reporting Requirements ,
Tax Evasion ,
Tax Reform ,
U.S. Treasury ,
Virtual Currency
The Internal Revenue Service (IRS) has scored another significant victory in its rapidly increasing virtual currency tax enforcement efforts. On May 5, 2021, the US District Court for the Northern District of California...more
5/7/2021
/ Bitcoin ,
Blockchain ,
Coinbase ,
Cryptocurrency ,
Digital Currency ,
Enforcement Actions ,
Income Taxes ,
IRS ,
John Doe Investigation ,
Noncompliance ,
Reporting Requirements ,
Tax Liability ,
Virtual Currency
On April 9, 2021, the Internal Revenue Service (IRS) released Chief Counsel Advice memo 202114020 (Hard Fork CCA), which details the potential tax consequences for taxpayers who held Bitcoin prior to the August 1, 2017,...more
It took five years, but the Internal Revenue Service (IRS) has finally released some guidance on the taxation of cryptocurrencies! On October 9, 2019, the IRS released Revenue Ruling 2019-24 and several “frequently asked...more