On February 11, 2022, in a letter addressed to certain U.S. Senators, the U.S. Department of the Treasury indicated that cryptocurrency miners, cryptocurrency stakers or related hardware or software providers would not be...more
2/17/2022
/ Bitcoin ,
Bitcoin Mining ,
Brokers ,
Cryptocurrency ,
Digital Assets ,
Digital Currency ,
Filing Requirements ,
Financial Transactions ,
Income Taxes ,
Infrastructure Investment and Jobs Act (IIJA) ,
Investment ,
IRS ,
Popular ,
Reporting Requirements ,
Tax Liability ,
Tax Planning ,
U.S. Treasury ,
Virtual Currency
The U.S. Department of the Treasury and the Internal Revenue Service on December 30, 2021, issued final regulations (“Final Regulations”) allowing a tax-free treatment of “covered modifications,” as defined, of certain...more
1/31/2022
/ Contract Modification ,
Debt Instruments ,
Derivatives ,
FATCA ,
Financial Regulatory Reform ,
Insurance Contracts ,
Inter-Bank Offered Rates (IBORs) ,
Interest Rates ,
IRS ,
Leases ,
Libor ,
New Regulations ,
REMIC ,
Stocks ,
Tax-Free Transfers ,
U.S. Treasury
On December 7, 2021, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) proposed new regulations (“Proposed Regulations”) defining and implementing the beneficial ownership reporting...more
12/23/2021
/ Anti-Money Laundering ,
Beneficial Owner ,
Corporate Transparency Act ,
Financial Crimes ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Transactions ,
FinCEN ,
Money Laundering ,
Proposed Regulation ,
Regulatory Requirements
On November 30, 2021, the U.S. Internal Revenue Service issued Revenue Procedure 2021-53, temporarily allowing publicly offered regulated investment companies (RICs), including certain business development companies (BDCs)...more
Senator Ron Wyden (D-Oregon), chair of the Senate Finance Committee, released on September 9, 2021, draft tax legislation that would directly impact the tax treatment of mutual funds, exchange-traded funds (“ETFs”) and...more
The White House has released several tax proposals, culminating with remarks by President Biden in a Congressional address. These proposals include the American Families Plan, for which the White House released a fact sheet...more