Cryptocurrency is here to stay. As of November 17, 2019, the top five cryptocurrencies by market capitalization had a combined value of approximately $196 billion,…
The Tax Cuts and Jobs Act (TCJA), signed into law on December 22, 2017, delivered sweeping changes to the federal tax code. These changes brought…
Reporting Undisclosed Foreign Assets
The Clock Is Ticking
On March 13, the IRS announced that it will close the Offshore Voluntary Disclosure Program (OVDP), effective September 28, 2018. In the announcement, the IRS…
Digital Currency: Market Value of Bitcoin, Ethereum, and Litecoin
Taxation, Enforcement, and the John Doe Summons
Several years ago, the IRS started its successful takedown of secret Swiss banking with the use of a John Doe summons. Currently, it is trying…
It is not often in life that one is able to hit pause, rewind, and redo something that has already happened. To many taxpayers' surprise,…