Results for "digital assets"
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Tax legislation for digital assets: What’s the conversation in Congress?
Despite common themes between a Senate bill and a House discussion draft on taxation of digital assets, they differ in key areas.
IRS warns crypto holders about fake compliance portal scam
The IRS said fraudsters are mailing letters that direct digital asset holders to a bogus “Digital Asset Compliance Portal” that mimics IRS.gov to collect personal information.
Transfer pricing treatment of acquired intangibles
After a cross-border merger or acquisition, related affiliates often integrate and use the acquired intangibles, such as new products or innovative features. To help executives manage the resulting transfer pricing risk, this article examines the treatment of acquired intangibles in post-acquisition related-party transactions.
Planning for domestication transactions
Foreign companies can realize benefits from establishing domicile in the United States if they observe structural and special rules and considerations.
Advocate: IRS had strong filing season for online taxpayers, weaker one for others
The national taxpayer advocate’s Fiscal Year 2027 Objectives Report to Congress says the IRS processed about 139 million returns and handled most refunds smoothly but says the story was different for taxpayers who needed help from a human being.
New IRS rules for digital content and cloud transactions
Businesses that offer software, software as a service, or other digital content to customers should carefully assess the implications of recent final digital content and cloud transaction regulations and proposed cloud transaction sourcing regulations.
Unlocking efficiency and reducing risk: How automation and AI are transforming tax reporting and withholding functions
Taxing authorities’ use of these new tools and capabilities requires corresponding adoption by tax professionals.
IRS finalizes deduction rules for tips, adds 3 eligible jobs
The final IRS regulations expand the tips deduction to 71 occupations and clarify rules on qualified tips, digital payments, and automatic gratuities.
IRS tapped Inflation Reduction Act funds to cover 2025 filing season, watchdog says
TIGTA found the IRS spent $4.8 billion in Inflation Reduction Act funds, which were intended to supplement its annual appropriation, on labor and IT to keep the 2025 tax season on track.
Case study: Cross-border planning for an Australia-bound expatriate couple
Financial concerns of expatriating taxpayers include not only US taxes but also the relevant laws of the destination country.
Adequate identification relief extended through 2026
The relief allows taxpayers to use alternative methods to make adequate identification of digital asset units that are sold, disposed of, or transferred during the relief period.
Navigating the Form 1099-DA reporting maze
Make sense of the new rules for digital asset reporting, including transition relief for 2025 and safe harbors going forward.
IRS proposal eases provision of 1099-DA statements by digital asset brokers
The proposed regulations would shift digital-asset reporting toward electronic-only delivery by loosening consent requirements for brokers.
White House makes recommendations on digital asset transactions
A presidential working group’s report advocates the United States implement the OECD’s Crypto-Asset Reporting Framework, an international reporting regime, as well as guidance by the IRS and Treasury.
Prop. regs. issued on new qualified tips deduction
The proposed regulations clarify points including the interaction of qualifying occupations for which tips are customarily received with ineligible specified service trades or businesses.
AICPA tax policy and advocacy successes: 2025 highlights
The AICPA’s Tax Division volunteer committees and technical resource panels can point to many positive results last year from its advocacy to Treasury, the IRS, and Congress for law changes and administrative guidance.
Even an expert says: Digital asset reporting creates headaches
At the AICPA National Tax Conference, digital assets expert Nik Fahrer, CPA, sympathized with tax pros who dread the upcoming tax season because of digital asset reporting requirements.
Digital asset transactions: Broker reporting, amount realized, and basis
Final regulations provide comprehensive guidance for tax reporting of transactions involving these increasingly common assets, and the IRS has granted transition relief in key areas.
How a CPA and wealth adviser partnership can guide families through transition
Michelle Buria, CFP®, MPAS®, AAMS®Managing Director, Wealth Management ChoreoMichelle is a managing director, Wealth Management, at Choreo in Duluth, Minn. She specializes in financial planning, retirement planning, and investment strategies, working with ultra-high-net-worth individuals and families, including widows and divorcees. Michelle helps clients align their wealth with their values and
IRS clarifies how employees can claim 2025 tip and overtime deductions
The IRS also is updating some income tax forms and instructions to help taxpayers claim the deductions.
