Recent regulatory changes demonstrate a trend towards narrower tax regulations that do not expand the law.
A recently revised crypto tax bill largely retains and expounds upon earlier proposals, while deviating on the taxation of mining rewards and dollar-pegged stablecoins.
The UK Court of Appeal confirmed that the ‘related party’ rules in Part 8 of the Corporation Tax Act 2009 apply to LLP structures.
The Tax Court recently held that a partner had zero basis in a contributed promissory note following a retroactively filed entity classification election.