The Cengage Blog

Contributing Author: James C Young  In Notice 2014–21 (2014–16 I.R.B. 938), the Internal Revenue Service (IRS) provided some basic answers to questions taxpayers were asking about virtual currency (also called cryptocurrency) like Bitcoin or Ethereum.  Although virtual currency operates like “real” currency in some...

Contributing Author: William A Raabe  The 2018 Budget Act (signed into law on February 9, 2018) included an interesting exception to the long-established rule that a private foundation cannot own an operating for-profit business. SWFT...