Senate Finance Committee Chair Ron Wyden (D-OR), and Ranking Member Mike Crapo (R-ID) posed policy questions to members of the digital asset community "to better understand how Congress can address the tax challenges and opportunities presented by digital assets." Both legislators emphasized the need for clear guidance.
The Internal Revenue Service and the Treasury submitted final and temporary regulations to the Office of the Federal Register regarding requirements related to equity-linked instruments.
The IRS and the U.S. Treasury Department examined proposed regulations to the Internal Revenue Code that would recharacterize certain debt instruments issued to related parties as equity for U.S. federal income tax purposes.
The Internal Revenue Service and the Treasury will hold a public hearing to review jointly proposed debt-equity regulations. The proposed regulations were published in the Federal Register.
A hotel and resort company delayed the planned acquisition of a vacation ownership business as a result of new understandings of the tax consequences of the deal under the Foreign Investment in Real Property Tax Act.