Taxation issues around virtual currencies have abounded since the inception of these so called “digital dollars,” such as Bitcoin, Ethereum, and Monero. Though a single Bitcoin may no longer be valued at nearly $20,000 as it was in late 2017, the overall increase in value of many virtual currencies has created an incentive for holders of these virtual currencies to donate amounts of virtual currency to charitable organizations, for the same reasons appreciated property is often donated generally. However, until recently, there was little to no IRS guidance in place for charitable organizations receiving donations of virtual currency.
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Recent Posts
- Recent California Supreme Court Decision Encourages Parties to Make Reasonable Settlement Offers (aka a 998 Offer) as Early as Possible
- Recent Court of Appeal Decision Emphasizes the Importance of Establishing Ownership Interests Prior to Initiating Partition or Other Property Actions
- Treasury Department to Suspend All Enforcement of Corporate Transparency Act against U.S. Citizens and Domestic Reporting Companies
- Political Printers: Don’t be Bitten by a Union “Bug”
- Corporate Transparency Act – Nationwide Injunction Reinstated by Fifth Circuit
- Fifth Circuit Lifts the Nationwide Injunction on the Corporate Transparency Act BOI Reporting Requirements – FinCEN Extends Filing Deadline
- Alert: FinCEN Announces Limited Extensions to Corporate Transparency Act Reporting Deadlines
- Court of Appeal Sheds Light On The Rights Of Limited Liability Companies And Its Members
- Dueling OpenAI Copyright Cases to Remain Separate, Parallel Actions on Both Coasts
- Section 16600 and the Fate of Trade Secret Exception
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