On December 13, 2023, the IRS revealed a revamped leadership structure, introducing Chief Information Officer and Chief Operating Officer positions to leverage technology more effectively. The move aligns with IRS...more
Just 10 years ago, only your millennial, techie cousin had ever heard of, let alone purchased, any cryptocurrency. Fast forward to 2021, and the volume of cryptocurrency transactions has grown to $15.8 trillion....more
10/6/2022
/ Bitcoin ,
Blockchain ,
Common Reporting Standard (CRS) ,
Cryptocurrency ,
Digital Assets ,
Ethereum ,
FATCA ,
FIFO ,
Foreign Financial Institutions (FFI) ,
Internal Revenue Code (IRC) ,
IRS ,
OECD ,
Popular ,
Reporting Requirements ,
Virtual Currency
On July 27, 2022, Senate Majority Leader Chuck Schumer and Senator Joe Manchin announced their agreement on proposed legislation (the “Inflation Reduction Act of 2022” or “Act”) that is expected to be considered by the Senate...more
Through its recent passage of the Infrastructure Investment and Jobs Act (the “Act”), Congress resolved an open question regarding the extent to which cryptocurrency transactions should be subject to information reporting...more