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
Feature Article
Small Business Inventory Rules Under the Tax Cuts and Jobs Act
The Tax Cuts and Jobs Act (TCJA) made a significant change to the rules for eligible small business taxpayers that were previously required to maintain inventories and utilize the accrual method of account... Patrick D. Dimmitt
Winter 2023,
Feature Article,
TCJA, Tax Cuts and Jobs Act, s corporation, Schedule C, NIMS, §274, inventory, Form 3115, §471(c), §1.471-1(b), §52(a), §52(b), §414(m), §414(o), nonincidental materials and supplies, applicable financial statement, AFS, §1.162-3, first-in, first-out, FIFO, §461, §1.451-3(a)(5), U.S. Securities and Exchange Commission, SEC, Form 10-K, Financial Industry Regulatory Authority, §1.446-1(c)(2), §5.01(1)(f), §22.18(6)(b), Rev. Proc. 2015-13, §22.18(6)(a), designated automatic accounting change number, DCN, §22.18(17), Rev. Proc. 2023-15