Fenwick & West Sued Over Alleged Role in FTX Crypto Collapse
Fenwick & West LLP was sued Wednesday over its alleged role in the collapse of the FTX cryptocurrency exchange.
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Fed Reduces T-Bill Buying Even Further in Another Sharp Pullback
The Federal Reserve said Wednesday it will buy about $10 billion of Treasury bills this period, a further slowdown of a program meant to ease short-term funding costs by rebuilding reserves in the financial system.
Crypto Scam Victim Sues IRS to Deduct $800,000 in Losses
An Ohio man filed a lawsuit against the IRS for disallowing a $130,000 refund stemming from losses he claims resulted from being a victim of a “pig butchering” crypto scam.
Arm, SoftBank Said to Have Tried to Buy Cerebras Before IPO
Farage Faces Inquiry Into £5 Million From Crypto Investor
The UK’s parliamentary standards commissioner launched an inquiry into whether
SoftBank Profit Jumps After Emboldened Son Bets More on OpenAI
Crypto’s ‘Big Enchilada’ Tests Reach of Industry’s Influence
The crypto industry, after pouring millions of dollars into recent lobbying and political mobilization campaigns, faces a crucial test of its influence apparatus this week.
AI Chipmaker Cerebras Is Said to Guide IPO Pricing Above Range
Altman Testifies About ‘Hair-Raising’ OpenAI Chat With Musk
ServiceNow US Bond Sale Draws $38 Billion of Investor Demand
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Indiana University
Tax Your Crypto and NFTs? Yes, the IRS Wants Its Cut
Cryptocurrency and NFTs continue to rise in popularity in the U.S., but many people are still confused about how they are taxed. In this video, a partner at Steptoe & Johnson who specializes in tax policy and cryptocurrency, lays out how different crypto transactions are taxed.
Accountants Take Center Stage in Trump, FTX Trials (Podcast)
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California Cannabis Seller Charged With $7.1 Million Tax Evasion
The California Attorney General’s Office announced Wednesday it filed felony charges against an unlicensed cannabis retailer for evading approximately $7.1 million in state sales tax.
IRS Issues PLR Granting Extension to File Accounting Method Changes for Inventory
The IRS has issued a private letter ruling on Treas. Reg. §301.9100 and I.R.C. §§263A and 446 granting a taxpayer 45 calendar days to file original Forms 3115 for accounting ...
IRS Issues PLR Extending Time for Election Treating Stock Disposition as Asset Sale
The IRS has issued a private letter ruling on I.R.C. §336 and Treas. Reg. §301.9100 granting S corporation target a 60-day extension to execute the section 336(e) election agreement and ...
IRS Issues PLR for Investment Income Election Correction, Amended Return
The IRS has published a private letter ruling on I.R.C. §163 and Treas. Reg. §1.163 correcting taxpayer’s net capital gain election under section 163(d)(4)(B) where taxpayer’s qualified tax professional inadvertently ...
Revenue Rule Defense in Doubt as Panel Hears Cum-Ex Case Appeal
Denmark’s tax authority likely isn’t barred from suing a group of US investors already found liable for helping a hedge fund trader steal from the country’s treasury in a $2.1 billion fraud scheme, a panel of Second Circuit judges indicated Wednesday.
IRS Issues PLR Allowing Unlimited Charitable Contribution Deductions for Estate Income to Charities
The IRS has published a private letter ruling on I.R.C. §642 and Treas. Reg. §1.642 confirming that an estate may claim unlimited charitable contribution deductions for gross income amounts paid ...
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