Firm Insights
For years, taxpayers who engage in virtual currency transactions, and the lawyers and accountants who advise them, have been virtually begging the IRS for some help in terms of dealing with some of the issues that come into play when reporting those transactions for tax purposes. Other than a Notice issued in April 2014 (Notice…
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Part Three of Three: In the prior blog posts in this series, I described generally how an Initial Coin Offering (ICO) operates and discussed how the Securities and Exchange Commission views the coins or tokens generated from an ICO. In this post, I explore the guidance (or lack-thereof) from the Internal Revenue Service. PART ONE: Initial…
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Part Two of Three: In my prior blog post in this series, I described generally how an Initial Coin Offering (ICO) operates. In this post, I discuss how the coins or tokens generated from an ICO are viewed by the Securities and Exchange Commission. PART ONE: Initial Coin Offerings: A Primer and Suggestion of Impending Issues…
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