Did You Resell a Taylor Swift Ticket? Expect a Form 1099-K
Taylor Swift fans forked out an average $2,183 for a resold ticket to a concert on the superstar’s The Eras Tour, according to...
IRS to Set Up New Work Unit to Focus on Complex Passthrough Entities
Nov 13, 2023
The IRS will set up a new unit to focus on large or complex passthrough entities as it continues to...
Most NIL Collectives Likely Ineligible for Tax-exempt Status, IRS Advises
Nov 9, 2023
An IRS Office of Chief Counsel legal memorandum (AM 2023-004) dated May 23, 2023, asserted that many name, image, and...
No Loss Deduction from Drastic Drop in Digital Asset’s Value
Nov 6, 2023
The IRS Office of Chief Counsel (OCC) concluded in a Chief Counsel Advice memorandum (CCA) that a significant decrease in...
IRS to Modernize Regs. for Tax Sales of Seized Property
Nov 2, 2023
The IRS and Treasury issued proposed regulations Friday that would modernize provisions concerning the government’s sale of taxpayers’ property after...
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