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Dechert LLP

The UK Investment Manager Exemption and Cryptoassets – Consultation Document

Dechert LLP on

As part of wider efforts to make Britain a global hub for cryptoassets technology and investment, on 4 April 2022 the government publicly committed to consult on extending the scope of the UK Investment Manager Exemption (the...more

Murtha Cullina

IRS Issues Guidance on the Tax Treatment of Employer Leave-Based Programs to Aid Victims of the Further Russian Invasion of...

Murtha Cullina on

On May 19, 2022, the IRS issued Notice 2022-28 (available at here), which provides guidance under the Internal Revenue Code (the “Code”) on the federal income and employment tax treatment of cash payments made by employers to...more

Troutman Pepper

Joint Chiefs of Global Tax Enforcement Issue Risk Indicators to Detect Illicit Financial Activity Involving NFTs

Troutman Pepper on

On April 28, the Joint Chiefs of Global Tax Enforcement (the J5), a global joint operational taxation group consisting of Australia, Canada, Netherlands, United Kingdom, and the United States, issued an intelligence bulletin...more

Cadwalader, Wickersham & Taft LLP

European Parliament Draft Report on Crypto

A draft report on the impact of crypto and blockchain on taxation was tabled before the European Parliament sub-committee on tax matters on 25 April 2022. The draft report consists of a motion for a European Parliament...more

Cadwalader, Wickersham & Taft LLP

Crypto Trading Safe Harbor – We’re On Our Own

The District of Columbia Bar Tax Legislative and Regulatory Update Conference, a two-day conference on tax legislative and regulatory developments, included a one-and-a-half hour panel on taxation of cryptocurrencies and...more

McDermott Will & Emery

Weekly IRS Roundup May 16 – May 20, 2022

McDermott Will & Emery on

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of May 16, 2022 – May 20, 2022... May 16, 2022: The IRS issued an internal memorandum related to a...more

Dentons

Dutch District Court: Interposition of an EU company is abuse of EU law

Dentons on

On May 4, 2022, the Dutch Zeeland-West Brabant District Court ruled that the interposition of a Luxembourg holding company by a non-EU private equity fund to own a 15.3 percent interest in a Dutch company constituted abuse of...more

BakerHostetler

Cryptocurrency Tax Enforcement May Soon Reward Tipsters Through Whistleblower Program and False Claims Act

BakerHostetler on

Key Takeaways - ..Taxpayers could be criminally and civilly liable under state False Claims Act statutes for underreporting income linked to virtual currency. ..While the federal False Claims Act explicitly excludes tax...more

Proskauer - Tax Talks

The Biden Administration Re-Proposes to Tax Carried Interests as Ordinary Income

Proskauer - Tax Talks on

On March 28, 2022, the Biden Administration proposed to tax “profits” or “carried” interests as ordinary income and impose self-employment tax on income and gains from these interests for certain partners in investment...more

Gerald Nowotny - Law Office of Gerald R....

Family Affair - Introducing Family Office Life Annuity (FOLA)

FOLA - Family Office Life Annuity, this solution utilized a private placement group variable deferred group contract, which provides for tax deferral. It is a powerful wealth accumulation technique. FOLA policy has customized...more

Miller Nash LLP

Today in Tax: Taxing Authorities Identify Problem Behaviors in NFT Markets

Miller Nash LLP on

While there are many legitimate uses for cryptocurrencies and digital assets, criminals look for ways to exploit new technologies. A global tax group released a bulletin with some red flags that individuals should be aware of...more

Davis Wright Tremaine LLP

Not So Fast! IRS Releases Proposed Clawback Regulations

The IRS recently released proposed clawback regulations on the treatment of gifts that are complete at the time of transfer but are potentially included in the donor's gross estate at death. Such gifts will likely get the...more

Brownstein Hyatt Farber Schreck

Taxpayer Fairness Across the IRS

On Tuesday, May 18, the House Ways and Means Subcommittee on Oversight held a hearing on taxpayer fairness at the Internal Revenue Service (IRS). Testifying before the committee were Commissioner for Wage and Investment and...more

Bergeson & Campbell, P.C.

Reinstated Superfund Excise Tax Imposed on Certain Chemical Substances

On November 15, 2021, President Biden signed into law the Infrastructure Investment and Jobs Act (IIJA), Public Law 117-58, 135 Stat. 429. Section 80201 of the IIJA reinstates the Superfund excise tax on certain chemical...more

Blank Rome LLP

Judge Rules in Favor of Securities Broker-Dealer on Application of New York Broker-Dealer Sourcing

Blank Rome LLP on

Although it has been more than 20 years since the enactment of customer-based sourcing for registered securities broker-dealers under the New York State corporate franchise tax, there have been few cases interpreting it....more

Brownstein Hyatt Farber Schreck

Taxation & Representation, May 17, 2022

Replacing Reed? Rep. Tom Reed (R-NY), a member of the House Ways and Means Committee, resigned from Congress last week. As of this writing, Republicans have not indicated when—or whether—they will fill the vacancy left by...more

Blank Rome LLP

Tax Justice Prevails as Connecticut Sinks FCA Expansion

Blank Rome LLP on

The Connecticut General Assembly was heading toward including taxation in the expansion of the state’s False Claims Act, Conn. Gen. Stat. § 4-274, et seq. (the “FCA”) via Senate Bill 426. Expansion of the FCA is laudable to...more

Blank Rome LLP

New York State Updates Draft Corporate Franchise Tax Regulations

Blank Rome LLP on

On April 29, 2022, the New York State Department of Taxation and Finance (the “Department”) released what it refers to as a “final update” to its draft corporate franchise tax regulations relating to all topics except for...more

International Wealth Tax Advisors

TIGTA Highlights the IRS’ FATCA Enforcement Woes

In the first 12 years of the U.S. Foreign Account Tax Compliance Act, the IRS has spent nearly $600 million on enforcement but has only managed to collect $14 million in penalties in return. This poor performance indicates...more

Freeman Law

Tax Court in Brief | Lewis v. Commissioner | Appealable Determination of Whistleblower Award

Freeman Law on

Tax Litigation: The Week of May 9th, 2022, through May 13th, 2022 Rogerson v. Commissioner, TC Memo. 2022-49| May 12, 2022 | Toro, J. | Dkt. No. 5848-20 Jackson v. Comm’r, T.C. Memo. 2022-50 | May 12, 2022 | Vasquez, J. |...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Issue Behind 'Almost All' Transfer Pricing Cases: Ex Ante or Ex Post Basis

In episode seven of "GILTI Conscience," hosts Nate Carden and David Farhat talk with Keystone Strategy's Bram Isgur about the issue underlying most major transfer pricing cases: whether to look forward to see what pricing...more

Murtha Cullina

IRS Looks to Limit Estate Tax Break For Large Gifts in Tweak to Anti-Clawback Regulations

Murtha Cullina on

The Treasury Department issued proposed regulations on Tuesday, April 26, 2022 in follow up to the anti-clawback regulations published on November 26, 2019. The 2019 anti-clawback regulations were in response to the Tax Cuts...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

That 401(k) Conference, T-Mobile Park, Seattle, Friday, September 9, 2022

Sponsorship brochure for That 401(k) Conference, T-Mobile Park, Seattle, Friday, September 9, 2022....more

Nexsen Pruet, PLLC

The Buzz, An Economic Development Podcast | Episode 82: Burnie and Kara

Nexsen Pruet, PLLC on

This week Kara Gormley Meador and Burnie Maybank, co-host of The Buzz, discuss South Carolina’ Economic Development and Tax Rankings. Burnie brings years of research and expertise to the episode as the former Director of the...more

Bowditch & Dewey

Charitable Contributions of Crypto Currency

Bowditch & Dewey on

Although the recent crypto currency market correction has taken some luster off digital coins, the tax implications of owning and transferring these assets are still important to understand. Because crypto currency is not...more

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Privacy Officer
JD Supra, LLC
150 Harbor Drive, #2760
Sausalito, CA 94965

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Privacy Officer
JD Supra, LLC
150 Harbor Drive, #2760
Sausalito, CA 94965

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Updates to This Policy

We may update this cookie policy and our Privacy Policy from time-to-time, particularly as technology changes. You can always check this page for the latest version. We may also notify you of changes to our privacy policy by email.

Contacting JD Supra

If you have any questions about how we use cookies and other tracking technologies, please contact us at: privacy@jdsupra.com.

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