Under provisional IRS guidance, a nonfungible token may be taxed as a collectible if its underlying assets constitute collectibles. Applying this look-through rule, however, may prove difficult in practice.
The REMIC rules provide some flexibility for borrowers seeking to wait to refinance under better market conditions, but CMBS loan servicers will be subject to the limitations of the securitization documents.
The IRS recently doubled down on its message that individuals need to include information on certain digital asset transactions as part of their annual tax filings.
The UK’s First-tier Tribunal denied deductions for contributions made to a remuneration trust and held the tax avoidance scheme to be a sham.