At this point we are all familiar with cryptocurrency to varying degrees—whether simply knowing it by name, by a rudimentary understanding of how it actually works, or perhaps by actually using or investing in it....
This article covers federal tax issues, but we generally must look to state law for the legal ownership and transfer of assets to determine federal tax consequences.
For any questions on this or any other legal matter, please feel free to contact Joel Crouch at (214) 749-2456 or jcrouch@meadowscollier.com or Kristen Cox at (214)749-2403 or kcox@meadowscollier.com.
It just keeps getting better for wealthy individuals! The Internal Revenue Service recently announced the inflation-adjusted estate and gift tax exclusion amount for 2020. For gifts made and estates of decedents dying...
As discussed in a prior blog post by my colleague, Anthony Daddino, here, the IRS began sending “educational” letters (i.e., warning letters) to taxpayers regarding their potential failure to report or pay tax on...
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