TAXATION

IRS Issues Additional Guidance on Tax Treatment of Virtual Currency
 

IRS Issues Additional Guidance on Tax Treatment of Virtual Currency

Posted: October 9, 2019
The IRS has provided additional detailed guidance to help taxpayers better understand their reporting obligations for specific transactions involving virtual currency. The new guidance includes Revenue Ruling 2019-24 and frequently asked questions.









Additional Regulations Released on New 100-Percent Depreciation
 

Additional Regulations Released on New 100-Percent Depreciation

Posted: September 13, 2019
The Treasury Department and the IRS have released final regulations and additional proposed regulations under section 168(k) of the Internal Revenue Code on the new 100-percent additional first-year depreciation deduction that allows businesses to write off most depreciable business assets in the year they are placed in service by the business.

The Federal Taxation Interest Group provides an open forum to discuss and educate members on Federal taxation issues, both domestic and international. 

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