Global Fintech & Digital Assets Blog

Tag Archives: IRS

Responsible Financial Innovation Act Offers Clarity, Safeguards for Digital Assets — Taxation

The RFIA could ease tax compliance burdens for parties transacting in digital assets and defer or eliminate tax on some transactions.  By Jiyeon Lee-Lim, Elena Romanova, Ted Gkoo, and Jacob Nagelberg Latham & Watkins presents a blog series on the Responsible Financial Innovation Act, which was introduced in the US Senate on June 10, 2022, to create a … Continue Reading

US Infrastructure Law: Top Impacts on the Digital Asset Industry

The industry will have two years to learn the new requirements and develop systems to ensure compliance. By Elena Romanova, Stephen P. Wink, Adam Zuckerman, and Deric Behar On November 15, 2021, President Biden signed the US$1.2 trillion Infrastructure Investment and Jobs Act into law (the Law). Two provisions of the Law could have a … Continue Reading

The Future Ain’t What It Used to Be: New Tax Guidance Issued for Cryptocurrencies

The IRS has published a Revenue Ruling and FAQs clarifying some long-standing virtual currency questions. By Brian C. McManus, Elena Romanova, Stephen P. Wink, Sam (Seung Hyun) Yang, and Deric Behar On October 9, 2019, the US Internal Revenue Service (IRS) issued its first guidance on the tax treatment of cryptocurrencies in at least five … Continue Reading
LexBlog