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Today in Tax: Taxing Authorities Identify Problem Behaviors in NFT Markets
May 19, 2022
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Brief commentary on recent cases, rulings, notices, and related federal tax guidance. Red Flags in the NFT Market While there are many legitimate uses for cryptocurrencies and digital assets, criminals look for ways to exploit new technologies. A g...
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Today in Tax: Digital Assets in Mergers & Acquisitions—Three Things Every Buyer Should Know
Cryptocurrencies, digital assets, and blockchain-based technologies seem to show up everywhere. As the market for these products matures, new markets are emerging. Competitors, new entrants, and investors are acquiring the technologies and platforms...
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Today In Tax: Uncertainties Surrounding Cryptocurrencies, Mining, NFTs, and More
Brief commentary on recent cases, rulings, notices, and related federal tax guidance. While the number of cryptocurrencies and other blockchain-based assets continue to grow, the IRS’s published guidance is inadequate in addressing how to tax these...
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Today in Tax: The Billionaire Minimum Income Tax and Cryptocurrency Tax Provisions in Biden’s 2023 Budget Proposal
Mar 29, 2022
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Brief commentary on recent cases, rulings, notices, and related federal tax guidance. The Billionaire Minimum Income Tax in Biden’s 2023 Budget Proposal Biden’s proposed “top-up” tax on wealthy individuals would ensure that households worth more th...
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Today in Tax: Financial Contract Modification and Foreign Tax Credits
Brief commentary on recent cases, rulings, notices, and related federal tax guidance. Transition rules allow opportunity to avoid taxable income when modifying financial contracts from IBOR to another metric Contracts dependent on a discontinued in...
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Today in Tax: Qualified Small Business Stock, Opportunity Zones, Information Reporting for Digital Assets
A brief commentary on the past week’s cases, rulings, notices, and related federal tax guidance. Medical Software Deemed a Qualifying Trade for Qualified Small Business Stock Gain Exclusion When certain criteria are met, stockholders may be able to...
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