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Cryptocurrency Creating Taxpayer Conundrums

As the tax season winds to a close, tax practitioners and taxpayers can once again begin the process of looking ahead. However, this tax filing season has left several questions unanswered. In particular, the treatment of certain cryptocurrency transactions have left taxpayers searching for answers without a clear path forward. Generally, the basic tax treatment…

Criminal Investigations to Focus on Employment Taxes

Officials with the IRS and the Department of Justice (DOJ) recently announced that criminal investigations will increasingly focus on employment tax. As part of the Tax Increase Prevention Act of 2014, the IRS established a voluntary certification program for professional employer organizations (PEO). Many wonder whether the IRS’ increased focus on employment tax will give…

Cracking Down on Cryptocurrency

While there are many reasons for people to invest in any given financial platform, the attraction of investing in cryptocurrency has long been rooted in the platform’s anonymity, lack of oversight, and inherent decentralization. As such, many investors, relying on the anonymous and unregulated nature of cryptocurrency, have not reported their earnings to the IRS…

Court Upholds Section 199 Deduction

The U.S. District Court for the Northern District of Illinois recently upheld a taxpayer’s domestic production activities deduction (DPAD) in Precision Dose, Inc. v. United States of America. Case No. 12 C 50180. The deduction is based in large part on qualifying production property that a taxpayer manufactures, produces, grows or extracts in whole or…
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Washington D.C.
Willard Office Building, Suite 300 1455 Pennsylvania Ave. Washington, D.C. 20004
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© 2024 alliantNational.- All Rights Reserved.

aNlogo-footer3@2x

Washington D.C.
Willard Office Building, Suite 300 1455 Pennsylvania Ave.
Washington, D.C. 20004
202.888.7006

© 2024 alliantNational. - All Rights Reserved.

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