The IRS issued guidance in 2014, through Notice 2014-21, on how to report income from virtual or “crypto” currency transactions. The IRS has since developed a “Virtual Currency Compliance” program focusing on U.S. taxpayers...more
The Alabama Supreme Court recently issued an opinion providing guidance on how computer software and related services are taxed by the State of Alabama for sales tax purposes. This is the first such opinion in this area by...more
The Internal Revenue Service (“IRS”) will be releasing guidance on the tax treatment and reporting requirements of “virtual currencies” (i.e., cryptocurrencies) very soon, according to Internal Revenue Service Commissioner...more