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Bitcoin

Bitcoin’s alleged architect troubled by financial, tax issues

Bitcoin’s alleged architect troubled by financial, tax issues

Australian Craig Steven Wright is the latest in a line of men alleged to be the mysterious creator of bitcoin, a digital currency that has attracted the interest of banks, speculators, criminals and regulators. Wired magazine, which along with fellow U.S. publication Gizmodo published a story outing Wright based on a stash of leaked documents […]

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10 things bitcoin won’t tell you

10 things bitcoin won’t tell you

10 things bitcoin won’t tell you, as reported in the WS Journal. 1. Bitcoin could be the tip of a dangerous iceberg What is the future of money? Whether they involve jangling coins, folding bills, swiping plastic or making a few simple clicks online, most of the ways people pay each other involve banks and […]

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What is virtual currency?

What is virtual currency?

If you use virtual currency to pay for goods or services, you need to know how virtual currency transactions are treated for federal tax purposes. Full story. Virtual currency is a digital representation of value. If you use virtual currency to pay for goods or services, you need to know how virtual currency transactions are […]

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IRS official: taxpayers don’t have to report virtual currency on 2013 FBARs

IRS official: taxpayers don’t have to report virtual currency on 2013 FBARs

During a recent webinar, an IRS official stated that for purposes of the current filing season, taxpayers aren’t required to report virtual currencies on a Report of Foreign Bank and Financial Accounts (FBAR) with the U.S. Treasury. However, although this previously disputed matter is settled for the present, he stated that this position may well […]

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IRS Virtual Currency Guidance – Bitcoins – in Notice 2014-21

IRS Virtual Currency Guidance – Bitcoins –  in Notice 2014-21

The IRS issued a notice providing answers to frequently asked questions (FAQs) on virtual currency, such as bitcoin. The FAQs provide basic information on the U.S. federal tax implications of transactions in, or transactions that use, virtual currency. A set of 16 questions and answers, are in Notice 2014-21, posted on IRS.gov. SECTION 4. FREQUENTLY […]

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IRS Virtual Currency Guidance – Bitcoins, A to Z

IRS Virtual Currency Guidance – Bitcoins, A to Z

The IRS issued a notice providing answers to frequently asked questions (FAQs) on virtual currency, such as bitcoin. The FAQs provide basic information on the U.S. federal tax implications of transactions in, or transactions that use, virtual currency. In some environments, virtual currency operates like “real” currency — i.e., the coin and paper money of […]

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Meet Paul Raymond

Meet Paul Raymond

Mr. Raymond is a sought after speaker in tax controversy law by many attorney, accountant, and business groups and at the request of the Internal Revenue Service, has presented programs at the IRS Nationwide Tax Forum, attended by tax professionals throughout the United States.

Additionally, he continues to be an active member in the Section of Taxation, American Bar Association, where he was the Past Chair of the Employment Taxes Committee.

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Member CA Bar Member Orange County Bar US Tax Court Attorney