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IRS Issues Notice on Treatment of NFTs as Collectibles

On March 21, 2023, the Internal Revenue Service (the IRS) released Notice 2023-27 (the Notice) announcing that the Treasury Department and the IRS intend to issue guidance related to the treatment of certain Non-Fungible...more

Warning to All U.S. Taxpayers Who Use Cryptocurrency: “Crypto” Doesn’t Mean Your Currency is Secret — or Protected — from the IRS

On August 15, 2022, the federal court in the Central District of California authorized the IRS to serve a John Doe summons on SFOX, a cryptocurrency prime dealer headquartered in California. A John Doe summons is a device...more

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