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Wages Internal Revenue Service Cryptocurrency

McGlinchey Stafford

Is a “Tip” Paid in Cryptocurrency a Tip for Employment Tax Purposes?

McGlinchey Stafford on

Tips are in the news lately. It seems like political strategists on both sides of the aisle have concluded that excluding tips from taxable income is good for votes. One has to wonder if this political promise will go the way...more

Morrison & Foerster LLP

Paying Employees in Cryptocurrency: Is That Lawful?

In recent years, more consumers, merchants, and financial institutions have accepted cryptocurrency as a form of payment for everyday products and services. Last November, mayors of two major U.S. cities signaled what may be...more

Lathrop GPM

Digital Assets and the IRS

Lathrop GPM on

Within the past year, the IRS has not changed its position on the way they are treating the taxation and reporting of digital token transactions. This alert serves as an update to last year’s rundown of cryptocurrency...more

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