IRS Drops 9 ‘Unnecessary’ Guidance Items; Treasury Scraps Financial Regs
As part of the Trump administration’s government-wide push for deregulation and smaller overall workforce, the IRS and the Treasury Department …
Republicans Celebrate House Passage of DeFi Broker CRA
Biden-era regs classifying some decentralized digital asset entities as brokers subject to IRS reporting rules are one step closer to …
Attempt to Overturn Digital Asset Broker Regs Clears First Hurdle
A joint resolution for disapproval of a Biden-era final rule on digital asset broker gross proceeds reporting requirements advanced out …
Digital Asset ‘Middleman’ Reporting Regs, Transition Relief Issued
The IRS has issued final regs that include participants in the decentralized digital asset space that provide trading front-end services …
Advice for Practitioners on Unused Digital Asset Basis Safe Harbor
A digital asset tax expert and an IRS official advised practitioners to consider their options presented in recent guidance that …
Circuit Court Revives Crypto Reporting Legal Challenge
In partially reversing a lower court’s dismissal of multiple constitutional challenges to the amended Code section requiring the disclosure of …
Deloitte’s Jonathan Cutler Weighs in on New Digital Asset Reporting Form
Deloitte Washington National Tax Senior Manager Jonathan Cutler, a global information reporting expert, shared with Checkpoint his impressions of the …
Sales Tax on NFTs Poised to Heat Up in 2024
To date, only a handful of states have provided guidance specific to the sales and use tax treatment of non-fungible …
Refresher: Infrastructure and Investment Jobs Act’s Crypto Reporting Requirements
This article is in collaboration with Ledgible. Crypto reporting requirements under the Infrastructure and Investment Jobs Act (PL 117-58), enacted November …
Biden Team Unveils Blueprint for Regulating Digital Assets
In its quest to regulate transactions involving digital assets and bolster federal oversight, the Biden administration has laid the foundation …