Firm Insights

Tainted Love: Starting a Business Without an Operating Agreement

By Sarah J. Luem / February 15, 2018 / Comments Off on Tainted Love: Starting a Business Without an Operating Agreement

In honor of Valentine’s Day, I’d like to share a twist on a classic love story – two young, naïve individuals meet, find they have common interests, and start dreaming about their future.  Eventually, these like-minded individuals decide that they are ready to take the “plunge” and enter into a long-term commitment.  After months of…

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Passport to Nowhere: What IRS Notice 2018-1 Means for “Seriously Delinquent” Taxpayers

By Michelle F. Schwerin / January 18, 2018 / Comments Off on Passport to Nowhere: What IRS Notice 2018-1 Means for “Seriously Delinquent” Taxpayers

The IRS published its first notice of the year this past Friday – Notice 2018-1 – providing guidance for implementation of Internal Revenue Code Section 7345. Wait, step back a moment… what is happening? On December 4, 2015, the Fixing America’s Surface Transportation Act (the “FAST Act”) was signed into law.  The FAST Act includes…

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What Goes Up, Must . . . Get Taxed? Tax Issues with Virtual Currency

By Sanford J. Boxerman / January 9, 2018 / Comments Off on What Goes Up, Must . . . Get Taxed? Tax Issues with Virtual Currency

Bitcoin, and other virtual currencies, had a heck of a year in 2017.  Bitcoin started the year trading at about $1,000 per coin; by year’s end, its value had skyrocketed to about $14,000.  Ethereum jumped from less than $10 to over $700.  Monero’s price similarly went from about $11 in January to about $350 on…

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