The Pandora Papers purport to reveal “secret tax havens of the wealthy.” They gathered this information from the tax returns which were illegally leaked. Where did the tax returns come from? The IRS? Hackers? No one seems interested in those questions. Now, the IRS wants access to most every taxpayer’s bank statements. Will that information remain confidential?

El Salvador recently made Bitcoin legal currency – and vowed to create an industry of Crypto Mining in the country. Now, El Salvador has started Green Mining using the power generated by Geothermal generators, using the heat of the Country’s volcanos.

Attorney Steven A. Leahy also discusses the recent hack of the largest Cryptocurrency exchange, Coinbase. We finish we a review of the Crypto markets.

the IRS has vowed to provide resources to help Cannabis business owners successfully navigate unique tax responsibilities.

“Tackling complex tax compliance issues is something I take great pride in doing as part of my job as the Commissioner for the Small Business/Self Employed (SB/SE) Examination division. I also see it as my responsibility to make sure my organization helps taxpayers navigate those complex issues and provides the tools that we have available for them to be successful and compliant business owners.” wrote De Lon Harris of the IRS.

Also, US House Judiciary Committee Advances Bill To End Cannabis Prohibition.

Attorney Daliah Saper is a Social Media/Intellectual Property attorney. She has been featured in National Jurist Magazine, Chicago Lawyer Magazine, Chicago Reader, among others. Daliah is a frequent lecturer, panelist, and instructor for organizations around the city and the country. She is on the faculty of the Practicing Law Institute, and has been selected by Harvard Law School’s Berkman Center for Internet & Society to be a member of Harvard’s new Online Media Legal Network (OMLN). Attorney Saper is the principal at the Chicago Law Firm Saper Law.

The United States Government, at all levels, is attacking Cryptocurrency. The IRS has held that Cryptocurrency is property and not a security. But Congress is seeking to eliminate a “loop hole” created by that designation. The wash sale rule applies to “stocks & securities” and prevents individuals from realizing a capital loss if they buy back a “substantially similar” stock or security within 30 days.

Congress is also looking to tax each and every trade or exchange in Cryptocurrency. The “government feels that an activity that generates income should be taxed.”