Cryptocurrency owners, along with the financial experts and legal professionals who guide them, should take heed of the Internal Revenue Service’s (IRS) current efforts to ensure compliance among those involved in crypto transactions. One of the signs that the IRS is giving closer scrutiny to crypto activities is the question added to Form 1040, which […]
What You Need to Know to Prepare for IRS Crypto Compliance Read More »
The Internal Revenue Service (IRS) has been urged by the American Institute of CPAs (AICPA) to provide guidance regarding the tax implications of digital asset losses. In a statement, AICPA Director for Tax Policy & Advocacy, Eileen Sherr, said, “With the complexities and recent bankruptcies involved with digital asset exchanges, taxpayers and practitioners are facing
AICPA Requests Tax Treatment Guidance for Digital Asset Losses Read More »
While most of the Infrastructure Investment & Jobs Act (IIJA) is focused on physical infrastructure projects across the country, there are a handful of tax provisions included in the bill as well, including: End of Employee Retention Credit The American Rescue Plan Act extended the Employee Retention Credit (ERC) for the third and fourth quarters
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