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IRS Issues New Cryptocurrency Guidance

USA - October 10 2019 On Oct. 9, 2019, the Internal Revenue Service (IRS) released Revenue Ruling (Rev. Rul. 2019-24) and a Frequently Asked Questions (FAQs) document...

Mary F. Voce.

IRS Clarifies U.S. Tax Treatment of Cross-Border Cloud and Other Online Transactions in Proposed Regulations

USA - August 19 2019 On Aug. 9, 2019, the IRS issued proposed regulations (Proposed Regulations) addressing the U.S. federal income tax treatment of cross-border cloud...

Kemal Hawa, Emily G. Naughton, Erez I. Tucner.

IRS Warns Cryptocurrency Investors That They May Owe Tax Money

USA - July 31 2019 The Internal Revenue Service (IRS) announced on July 26 that it has begun sending letters to taxpayers with virtual currency (also known as...

Mary F. Voce.

IRS Guidance on Cryptocurrency Tax Issues Expected Soon

USA - July 31 2019 The IRS may release guidance on virtual currency tax issues within the next few months, according to IRS Commissioner Charles Retting. Speaking at...

Mary F. Voce.

Proposed Regulations for Qualified Foreign Pension Funds that are Exempt from U.S. Tax on Disposition of U.S. Real Property Interests

USA - June 12 2019 The Foreign Investment in Real Property Tax Act of 1980, as amended (FIRPTA), imposes tax on gain realized on disposition by nonresident alien...