TITLE

VIRTUAL ECONOMIES VIRTUALLY UNREGULATED: HOW CLEAR TAXPAYER GUIDANCE CAN MITIGATE TAX COMPLIANCE RISKS

AUTHOR(S)
Anand, Jeffrey
PUB. DATE
September 2014
SOURCE
Hofstra Law Review;Fall2014, Vol. 43 Issue 1, p253
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
The article discusses the regulation of virtual economies and the author's claim that clear taxpayer guidance can mitigate the tax compliance risks as of 2014. America's national debt is addressed, along with government revenue in the country and noncompliance with the U.S. Internal Revenue Code. Virtual currencies such as Bitcoin are examined, along with tax havens and the country's Internal Revenue Service (IRS). Recommendations from the U.S. Government Accountability Office are assessed.
ACCESSION #
108813521

 

Related Articles

  • VIRTUAL ECONOMIES VIRTUALLY UNREGULATED: HOW CLEAR TAXPAYER GUIDANCE CAN MITIGATE TAX COMPLIANCE RISKS. Anand, Jeffrey // Hofstra Law Review;Winter2014, Vol. 43 Issue 2, p253 

    The article discusses the author's contention that clear taxpayer guidance can help mitigate tax compliance risks in America as of 2014, and it mentions the potential government regulation of virtual economies and currency systems. The U.S. Government Accountability Office's report on tax...

  • Additional IRS Guidance Could Reduce Tax Compliance Risks. White, James R. // GAO Reports;6/17/2013, preceding p1 

    The article reports on works of the U.S. Government Accountability Office (GAO) to create a medium of exchange for goods and services. It discusses virtual currencies have been producing income tax in several ways, tax requirement for the U.S. Internal Revenue Service (IRS), compliance and risk...

  • Part IV. Items of General Interest. Tucker, Beth // Internal Revenue Bulletin;9/23/2013, Vol. 2013 Issue 39, p264 

    The article focuses on a notice of public hearing and proposed rulemaking related to user fees for processing offers in compromise and installment agreements as of September 2013. It informs that the U.S. Internal Revenue Service is authorized under the Internal Revenue Code of 1986 to enter...

  • 2009 Offers Section 409A Correction Opportunities.  // Venulex Legal Summaries;2009 Q1, Special section p1 

    The article focuses on the policies to correct errors to taxation in order to comply with section 409A of the U.S. Internal Revenue Code stated in the Notice 2008-113 issued by the Internal Revenue Service (IRS) in 2009. The correction opportunities detailed in the Notice differ depending on...

  • Management Report: Improvements Needed in IRS's Internal Controls. Sebastian, Steven J. // GAO Reports;6/4/2008, p1 

    The article reports on the study about the needed improvements in the Internal Revenue Services (IRS's) internal control. This study aims to provide information for the U. S. Government Accountability Office (GAO) to observe issues in the audit of IRS financial statements about internal controls...

  • DEFENDING NUANCE IN A N ERA OF TEA PARTY POLITICS: A N ARGUMENT FOR THE CONTINUED USE OF STANDARDS TO EVALUATE THE CAMPAIGN ACTIVITIES OF 501(C)(4) ORGANIZATIONS. Mueller, Jennifer // George Mason Law Review;Fall2014, Vol. 22 Issue 1, p103 

    The article reflects upon the continued use of standards by the U.S. Internal Revenue Service (IRS) in evaluating campaign activities of 501(C)(4) organizations. Topics discussed include the role of the IRS officials in easing the complexity of the standards of the Internal Revenue Code (IRC),...

  • Taxpayers' Reliance on Professional Tax Advice. Knight, Ray A.; Knight, Lee G. // CPA Journal;Feb2013, Vol. 83 Issue 2, p36 

    The article reports that the U.S. Internal Revenue Service (IRS) may impose an accuracy-related penalty under the Internal Revenue Code (IRC) section 6662 if taxable transactions are not reported correctly. An accuracy-related penalty in an amount equal to 20% of any portion of an underpayment...

  • Part III. Administrative, Procedural, and Miscellaneous.  // Internal Revenue Bulletin;3/17/2014, Vol. 2014 Issue 12, p661 

    The article discusses revenue procedures for income tax regulations issued by the U.S. Internal Revenue Services (IRS) and Department of Treasury of the U.S. Internal Revenue Code (Code). Topics discussed include notice 2012-2018 extensions for physical inspection of state housing finance...

  • IRS Needs to Continue Improving Controls over Financial and Taxpayer Data.  // GAO Reports;3/19/2015, preceding pi 

    The article presents a report by the U.S. Government Accountability Office (GAO) as of March 2015 that discusses the need of improving controls over financial and taxpayer data by the Internal Revenue Service (IRS). It informs that the GAO examined IRS information security policies and...

Share

Read the Article

Courtesy of THE LIBRARY OF VIRGINIA

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics