A quarterly magazine from the National Association of Enrolled Agents
Winter 2024 vol.42 no.4
Digital Asset Final Regulations: What Tax Professionals Need to Know
Feature Article

Digital Asset Final Regulations: What Tax Professionals Need to Know

In 2021, Public Law 117-58, the Infrastructure Investment and Jobs Act, §80603, required brokers to report transactions involving digital assets similar to stocks. This includes information on sale pr... Tynisa (Ty) Gaines, EA (She/Her)

Winter 2024, Feature Article, crypto, Form 1040, Form 1099, Form 1099-B, Infrastructure Investment and Jobs Act, fair market value, Non-fungible token, NFT, Form 8949, Schedule D, FIFO, tax relief, Public Law 117-58, §80603, broker, digital asset, Treasury Decision 10000, TD 1000, stablecoins, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, Public Law 111-312, Form 1099-DA, §6045, Reg. §1.1001-7, FMV, First-in-first out, Revenue Procedure 2024-28, Notice 2024-57, Coinbase, Form 1099-S
Factors to Consider When Estate Planning with Cryptocurrency
Feature Article

Factors to Consider When Estate Planning with Cryptocurrency

The storm is here. The world is now fully entrenched in the cryptocurrency phenomenon and there is likely no turning back. Instead, tax and estate planning professionals must make sense of the cryptocurrency mania. Taxing authorities are g... Simon Mayali and Travis Thompson

May/June 2022, Feature Article, cryptocurrency, bitcoin, blockchain, fair market value, estate planning, staking, Jarrett v. United States, Notice 2014-21, Form 14457, revocable trusts
Important Things to Know for Tax Year 2021 Returns
Tax News Briefs

Important Things to Know for Tax Year 2021 Returns

Infrastructure Investment and Jobs Act On November 5, 2021, Congress passed the Infrastructure Investment and Jobs Act (H.R. 3684), which President Biden is expected to sign into law. The new law addresses provisions rel... TheTaxBook

Jan/Feb 2022, Tax News Briefs, corporation, Tax Court, Form 8300, Consolidated Appropriations Act, employee retention credit, Infrastructure Investment and Jobs Act, American Rescue Plan Act of 2021, §7508A, §408, Robert T. Stafford Disaster Relief and Emergency Assistance Act, §118, gross income, virtual currency, fair market value, §142(a), §45Q(f), Notice 2021-63