Expatriation Tax Next On IRS Crypto Enforcement List
By William Burck, Sandra Moser, Richard Smith and Alexander Merton (October 28, 2019, 1:55 PM EDT) -- Individuals who, over the past decade, amassed a small fortune in virtual currencies or other assets, who then expatriated from the United States without subjecting those assets to the expatriation tax, may feel like they have successfully flown under the radar of IRS' civil and criminal tax enforcement.
Recent IRS enforcement initiatives, however, including the IRS' 2019 expatriate compliance campaign and its 2018 virtual currency compliance campaign, suggest that the IRS has not been idle and is now publicly and officially on the hunt.
Although a wait-and-see approach might have sufficed in the past, now, more than ever, potentially noncompliant expatriates...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!