IRS releases IRS Legal Memorandum (ILM) 202114020, which provides a helpful discussion of a typical hard fork event, as that term is understood within the cryptocurrency community. By contrast, in its October 2019 guidance (Rev. Rul. 2019-24, IRB 2019-44 p. 1004), the IRS described [...]
The UK tax authority publishes a new cryptoasset taxation manual comprising previous advice and new guidance on the tax treatment of “staking” activities carried out by businesses and individuals. The manual incorporates policy papers published in 2018 and 2019 for individuals and businesses holding [...]
Kentucky H.B. 230, as signed into law, incorporates definitions and tax exemption application procedures regarding commercial cryptocurrency mining into the state tax code.
For the past 8 months, this question has been the most often-asked question of the team at Wolf Group Capital Advisors (WGCA), a sister firm of The Wolf Group. We recently connected with Bob Len, WGCA Managing Director, to solicit his thoughts on the [...]
If you live overseas, travel regularly, or split your time between different locations, you may have had the unpleasant experience of receiving an IRS notice after the payment due date listed in the notice. Or perhaps, during the COVID-19 pandemic, you were one of [...]
On February 20, 2021, President Biden declared a “major disaster” for Texas due to the severe winter storms that lasted from February 11 through February 20. The storm caused significant issues, such as loss of power and water, home damage, water pipe damage, and [...]
The Danish Tax Agency announces it collected $4.9 million in unpaid taxes as a result of 541 investigations of crypto traders that dealt in Bitcoin, Ethereum, and Ripple.
