On November 18, 2020, in Rev. Rul. 2020-27, the IRS reaffirmed its position that deductions for eligible expenses will be disallowed if a PPP loan is forgiven and extended the rule to deny deductions paid or incurred in a...more
Simple Agreements for Future Tokens pose difficult and controversial legal questions under U.S. securities, commodities and tax laws.
SAFT holders face significant difficulties in securing liquidity, and regulatory issues...more
7/7/2020
/ Commodities ,
Commodity Exchange Act (CEA) ,
Eligible Contract Participant ,
Forward Contracts ,
Income Taxes ,
Investment Contract ,
Investors ,
IRS ,
Securities ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Tokens ,
Simple Agreement for Future Tokens (SAFT) ,
Virtual Currency
Among the many “tax extenders” in the Protecting Americans from Tax Hikes Act of 2015 (PATH Act, Division Q of the Consolidated Appropriations Act, 2016, P.L. 114-113, enacted December 18, 2015) is a permanent extension of...more