/PRNewswire/ Damon Rowe, the former executive director of the Internal Revenue Service s Office of Fraud Enforcement, has joined Meadows, Collier, Reed,.
/PRNewswire/ Damon Rowe, the former executive director of the Internal Revenue Service s Office of Fraud Enforcement, has joined Meadows, Collier, Reed,.
Commentary U.S. financial authorities regard cryptocurrencies as a capital flight threat to the weakening greenback unlike dollar-denominated stocks and .
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In his April 28, 2021 address, President Biden asked Congress to provide $80 billion of extra funding for the Internal Revenue Service (“IRS”) over the next decade.
1 While the timing and amount of any additional funding are uncertain, there appears to be general agreement that increased funding of IRS enforcement efforts is critical to reverse the steady decline of audits, criminal investigations and prosecutions over the last decade.
2 The IRS is not waiting for additional funds to ramp up its fraud and criminal enforcement activities, however, having recently established new units focused on these efforts.
Mo Money Mo Problems: Backup Planning for Bitcoin Bros The combination of zealous politicians and the IRS getting serious about collecting taxes on cryptocurrency gains means trouble for unprepared clients.
David Lesperance | Apr 05, 2021
In 1996, the Notorious B.I.G. released what was to become his post-humous classic rap single: “
Mo Money, Mo Problems.”
In 2009, Bitcoin was released to the world at the now-astonishing price of 10,000 Bitcoin for two Papa John’s pizzas. Given the current price of those pizzas is $15, then each of those coins would have been worth $0.15 cents. And over the last year the values of Bitcoin and other cryptocurrencies have skyrocketed. At the time of writing, each one of those original Bitcoins would be worth $59,325, with the 10,000 being worth almost $600 million.