Legal Blog Articles by Edward “Teddy” Eynon
Edward “Teddy” Eynon is a corporate transactions & business attorney who writes articles on corporate transactions & business, litigation, and environmental.
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How Will the Infrastructure Bill Impact Cryptocurrency?
Author: Edward "Teddy" EynonDate: September 3, 2021
Congress is hoping that tax revenue from cryptocurrency transactions will help fund infrastructure projects across the country. Under a controversial provision in the $1 trillion infrastructure bill approved by the U.S. Senate, cryptocurrency brokers will be subject to new tax-reporting requirements.
As discussed in prior posts, the federal government is steadily increasing its oversight over cryptocurrency as it grows in popularity. The Internal Revenue Service (IRS) has led the charge, seeking to increase tax compliance around cryptocurrency transactions. In 2019, the IRS began sending letters to taxpayers with virtual currency transactions that potentially failed to report income and pay the resulting tax from virtual currency transactions or did not report their transactions properly.
US House Passes PFAS Action Act
On July 21, 2021, the U.S. House of Representatives passed the PFAS Action Act of 2021 (H.R. 2467)... On July...
Why Does Congress Take a Summer Vacation?
Every August, Congress adjourns for a month-long recess... Every August, Congress adjourns for a month-long recess. While the recess was...
Cannabis Industry Finds Unlikely Ally in Justice Clarence Thomas
Justice Clarence Thomas is the latest to voice concerns about the continued federal criminalization of marijuana... Justice Clarence Thomas is...
President Biden Not Alone in Facing First-Year Challenges
While it appears that President Biden has reached a deal with Republicans on infrastructure, other priorities, like gun control, voting...
