The Financial Action Task Force and Virtual Assets
The Financial Action Task Force and Virtual Assets article was published by JD Supra on 4/30/19. The FATF (FATF) is an inter-governmental body with 38 members that sets standards and promotes the implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and threats to the integrity of the international financial system. […]
Tax Time and Virtual Currency
Tax Time and Virtual Currency was published by JD Supra on 4/9/19. Virtual Currency (VC) investors continue to have accounting challenges at tax time. They are seeking to better understand and comply with their U.S. tax regulatory obligations when using VC. That said, IRS has not issued any additional guidance that Taxpayers may rely upon […]
Residential Real Property Purchased with Virtual Currency must be Reported
Residential Real Property Purchased with Virtual Currency must be Reported was published by JD Supra on 3/26/19. On November 15, 2018, the Financial Crimes Enforcement Network (FinCEN) announced the issuance of a “Revised” Geographic Targeting Order (GTO) that requires U.S. title insurance companies (Covered Business) to identify the 25% Beneficial Owners behind “Shell” companies (legal […]
Comentarios del Director de FinCEN sobre las Deficiencias en el Cumplimiento de la Moneda Virtual
Comentarios del Director de FinCEN sobre las Deficiencias en el Cumplimiento de la Moneda Virtual was published by JD Supra on 12/7/18. El 8 de agosto de 2018, el Director de FinCEN, Kenneth A. Blanco, pronunció un discurso en la Conferencia Técnica (Legal) Chicago-Kent Block 2018. Los puntos más destacados de sus comentarios incluyen: La […]
Government Agencies are spending money to track down Virtual Currency
Government Agencies are spending money to track down Virtual Currency was published by JD Supra on 11/27/18. Government agencies apparently believe that expertise from blockchain analytic firms is required to assist with investigating illicit activities such as tax evasion, money laundering, terrorist financing, and drug markets. According to a Report released by Diar – a company that analyzes […]
2018 is almost over and still no guidance from IRS on the treatment of Virtual Currency
2018 is almost over and still no guidance from IRS on the treatment of Virtual Currency was published by JD Supra on 11/21/18. On September 19, 2018, the House Ways and Means Committee wrote a letter to the IRS urging the IRS to “issue updated guidance, providing additional clarity for Taxpayers seeking to better understand and […]
Los titulares de Moneda Virtual (MV) NECESITAN MANTENER REGISTROS
Los titulares de Moneda Virtual (MV) NECESITAN MANTENER REGISTROS was published by JD Supra on 11/14/18. La Sección 6001 del Código de Rentas Internas requiere que los Contribuyentes mantengan libros y registros adecuados. Mantener libros adecuados y buenos registros de la MV ayudará al Contribuyente a: Monitorear el progreso en su inversión de la MV […]
Virtual Currency (VC) Holders NEED to KEEP RECORDS
Virtual Currency (VC) Holders NEED to KEEP RECORDS was published by JD Supra on 11/14/18. Internal Revenue Code Section 6001 requires Taxpayers to maintain adequate books and records. Keeping adequate VC books and good records will assist a Taxpayer to: Monitor the progress of a VC investment ⦁ Prepare financial statements ⦁ Identify profits […]
¿Vale la pena el riesgo de la Moneda Virtual?
¿Vale la pena el riesgo de la Moneda Virtual? was published by JD Supra on 11/6/18. Hemos leído que la Moneda Virtual (MV) es un “activo especulativo” que, en determinadas circunstancias, puede utilizarse para pagar bienes o servicios o ser retenido para inversiones; y que su intercambio o uso de intercambio de venta tiene consecuencias fiscales […]
Is Virtual Currency worth the Risk?
Is Virtual Currency worth the Risk? was published by JD Supra on 11/6/18. We have read that Virtual Currency (VC) is a “speculative asset” that under certain circumstances may be used to pay for goods or services or be held for investment; and that its sale, exchange or use has tax consequences that may result in […]
¿Qué es un evento tributable en la moneda virtual?
¿Qué es un evento tributable en la moneda virtual? was published by JD Supra on 10/9/18. Sigue habiendo dirección limitada del Tesoro de los EE.UU y el IRS sobre la Moneda virtual (MV) y los inversionistas de la MV deben proceder con cautela. El IRS continúa haciendo referencia al Aviso 2014-21 para recordarle a los […]
Lo que sabemos sobre el Cumplimiento Crypto y los impuestos federales de los EE. UU.
Lo que sabemos sobre el Cumplimiento Crypto y los impuestos federales de los EE. UU. was published by JD Supra on 10/9/18. La última Notificación emitida por el IRS sobre Criptomoneda fue el Aviso 2014-21 publicado el 25 de Marzo del 2014 que brinda orientación en forma de respuestas a preguntas frecuentes (“Frequently Asked Questions”). […]
