ETHERLive
ETHERLive delivers real-time price and volume data across 16+ exchanges to users in a clear and easy-to-understand package. Users can get up-to-the-second updates for each exchange/currency pair, as well as aggregated market averages for each exchange, currency, and the market as a whole. It also provides a global converted average of all the currency pairs monitored by ETHNews, converted to USD.

---

24hr ---
--%
Wednesday May 23rd 2018
RESOURCES

The Basics

Learn the basics of Ethereum and various cryptocurrency technologies

Learn More

What is Ethereum?

Understand the underlying principles of the Ethereum Platform

Learn More

The Blockchain

Discover the revolutionizing technology known as the blockchain

Learn More
SUBMIT

Press Release

Submit a press release for consideration on ETHNews

Submit Press

Story / Dapp

Submit a story or DAPP to be considered for publication on ETHNews.

Submit Story

Explanation

Submit "Ethereum Explainer" content for consideration to be featured on ETHNews

Submit Topic
ETHNews Logo
---
--%
Home
News
Etherlive
Ether Price Analysis
Resources
Contact Us

Trump To Nominate Tax Attorney Charles Rettig To Lead IRS

By

Matthew

De Silva

WriterETHNews.com

On Thursday, the White House issued a statement about the impending nomination of Charles P. Rettig as commissioner of the Internal Revenue Service (IRS).

On February 8, 2017, the White House announced President Trump's intention to nominate Beverly Hills tax attorney Charles P. Rettig to be commissioner of the Internal Revenue Service (IRS). Since the 48th IRS Commissioner, John Koskinen, stepped down in November 2017, David Kautter, the Assistant Treasury Secretary for Tax Policy, has served as acting commissioner of the nation's tax agency.

Rettig is an experienced tax professional, but I won't bore you with his extensive qualifications. Suffice it to say that he's been in practice for more than 35 years and he boasts a collection of professional honors. But what really matters to cryptocurrency enthusiasts is this: what has Rettig said about taxing digital assets?

Unfortunately, not much.

On October 24, 2017, at a thrilling event called the 33rd Annual Tax Controversy Institute Conference, Rettig briefly chimed in on cryptocurrency. He simply observed, "Many of this year's tax controversy presentations are current and ripped from the headlines – data breach and identity theft, bitcoin and cryptocurrencies, and the cannabis industry."

It's difficult to surmise just how much – or how little – Rettig knows about cryptocurrency. He has not yet replied to a request for comment.

However, one week from today, one of Rettig's colleagues, Steven Toscher will host a Strafford webinar entitled "New IRS Scrutiny of Cryptocurrency Reporting: Filing Requirements and Exchange Treatment."

An announcement for the event explains, "The panel will provide tax counsel, accountants and other advisers with a critical look at new IRS initiatives on taxpayer compliance and reporting obligations for cryptocurrency (e.g. Bitcoin, Ethereum, etc.) transactions. The panel will discuss the IRS position on cryptocurrency as property rather than cash, analyze IRS monitoring to increase compliance, possible IRS examinations and criminal investigations and prosecutions for failing to properly report cryptocurrency transactions and define proper reporting and tax treatment for 'mining' and exchanging cryptocurrency."

Certainly keep an eye on this discussion, as it may offer some insight into the nominee's thinking.

Matthew De Silva

Matthew is a full-time staff writer for ETHNews with a passion for law and technology. In 2016, he graduated from Georgetown University where he studied international economics and music. Matthew enjoys biking and listening to podcasts. He lives in Los Angeles and holds no value in any cryptocurrencies.

ETHNews is committed to its Editorial Policy

Like what you read? Follow us on Twitter @ETHNews_ to receive the latest Trump, Charles Rettig or other Ethereum business and finance news.