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Jeffry Erney

As seen in: JD Supra
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Articles by Jeffry Erney

Newly Staked Tokens May Not Be Taxable | JD Supra

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By Jeffry Erney, Linda Pfatteicher, Howard Neiswender
| JD Supra
What Happened A recent disclosure in the U.S. District Court for the Middle District of Tennessee is causing speculation as to what position the IRS may take on the taxable status of tokens created through proof-of-stake consensus mechanisms. The case, Jarrett v. United States, Case No. 3:21-cv-00419 (M.D.Tenn. filed May 26, 2021), was brought by a Tennessee couple seeking a tax refund after declaring $9,407 worth of Tezos tokens as income in their 2019 tax returns.
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US Supreme Court Unanimously Holds IRS Notice Seeking Information Can Be Enjoined | JD Supra

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By Jeffry Erney, Mark Loyd, Bailey Roese
| JD Supra
In CIC Services, LLC,v. IRS, 127 AFTR 2d2021-XXXX, (S. Ct.) 05/17/201, the U.S. Supreme Court has unanimously held that the Anti-Injunction Act1 did not prohibit a pre-enforcement challenge to an IRS information reporting requirement, where the failure to comply could result in civil and criminal penalties.
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IRS to Begin Hundreds of High-Net-Worth Examinations in July | JD Supra

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By Jeffry Erney, Mark Loyd, David Mayhall
| JD Supra
The Internal Revenue Service’s (IRS) moratorium on various investigations and collection actions is set to expire on July 15, 2020 at which point the IRS will begin aggressively pursuing high-net-worth individuals.
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New Guidance on Deducting Settlements, Restitution, Remediation, and Similar Amounts | JD Supra

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By Jeffry Erney, John Harrington, Mark Loyd
| JD Supra
Updated: May 25, 2018: JD Supra is a legal publishing service that connects experts and their content with broader audiences of professionals, journalists and associations.
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DC Circuit rules IRS can deny a charitable deduction due to an incomplete form | JD Supra

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By Peter Anthony, Jeffry Erney
| JD Supra
Updated: May 25, 2018: JD Supra is a legal publishing service that connects experts and their content with broader audiences of professionals, journalists and associations.
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