The IRS provided guidance for businesses seeking to obtain carbon capture credits as a result of amendments made to the Bipartisan Budget Act of 2018.
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U.S. Treasury Deputy Secretary Justin Muzinich highlighted developments in housing finance reform, Committee on Foreign Investment in the United States reform, digital taxation, and cryptocurrency policy.
An investment fund challenged an IRS determination that various contracts entered into between the fund and an investment bank resulted in the fund having effective ownership of the positions that were the subject of the contracts.
A Facebook executive agreed to work with the IRS to improve regulations on digital currency transactions.
The IRS delayed implementing certain rules that are intended to prevent non-U.S. persons from using derivative instruments to avoid U.S. withholding tax on U.S. equities.