Last March Congress passed the American Rescue Plan with much fanfare. The Bill was so urgent, there was little debate. What has come to light is the new 1099-K reporting requirements for those that use … Continue reading Cash App Crack Down
Storage of Value or Medium of Exchange
The promise of Cryptocurrency is in the use – or is it in the value. That is the conflict. It is hard to buy something with Crypto that may grow in value the next day. … Continue reading Storage of Value or Medium of Exchange
Dave Guttman – Coinflip.tech
Dave Guttman is the Chief Growth Officer of Coinflip – the pushers, movers, and shakers of the cryptocurrency industry. Coinflip makes cryptocurrency accessible to all though a network of more than 3000 Bitcoin ATMs across … Continue reading Dave Guttman – Coinflip.tech
Record Tax Collection!
After all the hand-wringing about the Tax Gap, wealthy tax evaders and Crpto cheats the US Treasury collected a record $283,927,000,000 in total taxes in October, which was the first month of fiscal 2022. However, … Continue reading Record Tax Collection!
Infrastructure: Tax Breaks For Trial Attorneys
The 2,100-page Infrastructure Bill is full of payoffs for special interests. One of the most egregious examples is the change in the tax law granting trial attorneys to deduct legal fees as they incur them … Continue reading Infrastructure: Tax Breaks For Trial Attorneys
Flawed Infrastructure Crypto Provision
The new infrastructure bill expands the definition of cash to include “digital assets” and includes tax reporting provisions that capture Miners, stakers, lenders, decentralized application and marketplace users, traders, businesses, and individuals into these reporting … Continue reading Flawed Infrastructure Crypto Provision
Attorney Steven A. Leahy
Steven A. Leahy is the Principal of the Law Office of Steven A. Leahy, PC and Opem Tax Advocates. He is a regular contributor on law and tax-related matters across Chicago media, including WGN 720 Radio, … Continue reading Attorney Steven A. Leahy
New Tax Plan Expands SALT
Congress has proposed yet another version of a Tax Bill Today. Although, as Senator Manchin points out, no one really knows what provisions are in any of the versions. Different elements are suggested as a … Continue reading New Tax Plan Expands SALT
How COVID Changed The IRS
There is a current aphorism “COVID changed Everything!” That saying even goes to the IRS. Initially, in March 2020, the IRS shut down all operations: enforcement, collections, mail, phone, and print. These interruptions caused delays … Continue reading How COVID Changed The IRS
Stablecoin – New Tech, Old Reg??
The long awaited “President’s Working Group on Financial Markets: Report on Stablecoins” was released today. The new report of these U.S. financial authorities has predicable conclusions: REGULATE. For those who don’t know, Stablecoin is a … Continue reading Stablecoin – New Tech, Old Reg??
