Tax Law News and Insights

On September 28, 2022, the OECD published the Bilateral Advance Pricing Arrangement ("BAPA") Manual. The manual proposes best practices for jurisdictions to streamline, expedite and improve BAPA processes based on member surveys. Most notably, the BAPA manual encourages jurisdictions to conclude BAPAs within 30 months and to work to further reduce...

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Crypto industry groups had hoped to use the tax refund case of Jarrett v. United States, No. 3:21-cv-00419 (M.D. Tenn.) as the vehicle to prove that staking rewards received by a crypto validator only trigger gain upon the ultimate disposition of the reward, rather than constituting taxable income upon receipt. However,...

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What is student loan forgiveness? On August 24, President Biden announced a highly anticipated decision on student loan forgiveness.1 For individuals earning less than $125,000 ($250,000 for married couples), the U.S. Department of Education will provide up to $20,000 in debt cancellation to Pell Grant recipients and up to $10,000 to...

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