Bryan Smith

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Bryan Smith, a partner with the firm's Corporate practice, has experience in many aspects of federal income tax, including mergers and acquisitions, international and cross-border transactions, executive compensation, public and private offerings, joint ventures, real estate investment trusts (REITs), real estate and leasing transactions, and federal tax controversies.

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IRS Clarifies Tax Treatment of Bitcoin and Other Convertible Currencies

By Jacob S. Farber, J. Dax Hansen, Bryan Smith, Richard E. Peterson & Dsu-Wei Yuen on March 26, 2014

Posted in Regulatory and Legislative Developments

The IRS issued Notice 2014-21 yesterday, which describes how the IRS will apply U.S. tax principles to transactions involving virtual currency. The GAO had previously issued a report on virtual economies and currencies, calling for additional IRS guidance on the basic tax reporting requirements applicable to virtual currencies.
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