Scarinci Hollenbeck regularly publishes articles pertaining to legal updates affecting individuals and institutions in New York and New Jersey, and the world at large. Here you can find coverage for when we welcome new attorneys, significant wins we’ve secured on behalf of our clients, and general announcements.
Results for tax articles
IRS Asking Congress to Bolster Its Crypto Enforcement Authority
Author: Jeffrey R. PittardDate: June 29, 2021
The Internal Revenue Service (IRS) is continuing its cryptocurrency crackdown. Earlier this month, the agency asked Congress for additional funding and greater legal authority to bolster its efforts to regulate cryptocurrencies and increase tax compliance.
As discussed in prior posts, virtual currency is treated as property for federal tax purposes. Accordingly, the sale or exchange of convertible virtual currency, or the use of convertible virtual currency to pay for goods or services in a real-world economy transaction, may have tax consequences that may result in a tax liability. However, the IRS contends that many taxpayers are shirking their tax obligations when it comes to crypto transactions.
IRS Targeting Cryptocurrency Platforms to Obtain Taxpayer Information
The Internal Revenue Service (IRS) continues to ramp up its efforts to identify taxpayers that have failed to properly report...
Do Cryptocurrency Transactions Above $10K Have to Be Reported to IRS?
The U.S. Treasury Department is looking to boost tax compliance on virtual currency by imposing a new reporting requirement on...
Ninth Circuit Reject Cannabis Company’s 280E Tax Arguments
The Ninth Circuit Court of Appeals recently confirmed that because marijuana remains illegal under the federal Controlled Substances Act (CSA) cannabis...
When Decanting Can be Used to Amend an Irrevocable Trust in New Jersey
One of the options possible for modifying an irrevocable trust is known as "decanting"... Despite what the name suggests, it...
COVID-19 Highlights Importance of Understanding the Guardianship Process
January 22, 2021
COVID-19, unfortunately, is now among the examples of causes for the need to appoint a guardian... It is always advisable...
Timeline for Implementing New Jersey’s New Economic Incentives
January 19, 2021
Gov. Phil Murphy signed the New Jersey Economic Recovery Act of 2020 (Senate Bill 3295/ Assembly Bill 4) on January...
What Businesses Need to Know About New Jersey’s Tax Incentive Legislation
December 18, 2020
After months of negotiation, Gov. Phil Murphy and leaders in both houses of the New Jersey Legislature have reached a...
Extended Deadlines for Opportunity Zone Program Ease Impact of Pandemic
August 10, 2020
NY and NJ businesses participating in the Opportunity Zone Program have breathing room when it comes to satisfying key deadlines......
Federal Government Providing Tax Relief in Light of COVID-19, Will New Jersey Follow?
March 25, 2020
IRS Postpones Tax Deadline to July 15, 2020 The list of events postponed due to Coronavirus (COVID-19) now includes Tax...
- Assets | 47
- Business | 164
- Celebrity Tax Problems | 8
- Estates | 51
- International | 53
- IRS | 196
- New Jersey | 15
- Offshore Disclosures | 8
- Property Tax | 14
- Social Media | 5
- Tax Inversion | 12
- Tax Issues that Impact Your Wealth | 15
- Tax Planning | 5
- Taxes | 222
- Trusts | 30
- Trusts and Estates | 160
- Wealth | 56
- Wealth Preservation | 124
- Business Law | 610
- Entertainment and Sports | 429
- Labor and Employment | 316
- Intellectual Property | 162
- Cyber Security | 156
- Environmental | 139
- Cannabis Law | 115
- Tax | 50
- Commercial Real Estate | 42
- Litigation | 37