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Tax Controversy News

Oct 18, 2019

New Guidance from the Internal Revenue Service on Cryptocurrency: Rev. Rul. 2019-24 Clarifies the Agency’s Position on Hard Forks and Airdrops

On October 9, 2019, the Internal Revenue Service (“the Service”) published further guidance regarding the tax treatment of cryptocurrency.  This marks the first time since 2014 that the Service has provided insight into the taxation of this fast-evolving area. In Rev. Rul. 2019-24, the Service specifically discussed whether and how “hard forks” or “airdrops” could…

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Sep 27, 2019

IRS Scam Alert

Computer hackers are actively taking advantage of the fears that most people feel when they see a communication from the IRS. Multiple businesses and individuals in 2019 have received emails and other electronic notices that purport to be from the IRS, when they are in fact, targets of a massive scam. When the recipients follow…

Sep 27, 2019

Cost Sharing Tax Disputes

Multinational corporations use cost-sharing arrangements (“CSA’s”) to spread costs between a parent and one or more offshore subsidiaries. Aggressively structured, CSA’s might exclude the value of stock-based compensation from shared costs, which can have the effect of increasing the compensation deduction that a company is entitled to claim on its domestic corporate returns. Because higher…

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Phone: 410-727-6600
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