JD Supra

Taxation of Foreign Currency Transactions Part II: Gains, Losses, Personal Transactions, and Electing Out of Section 988

Are all foreign currency gains taxable? No. Under a de minimis exemption individual taxpayers with foreign currency gains of $200 or less on a “personal transaction” do not need to report them. How ...
JD Supra

Taxation of Foreign Currency Transactions Part I: Definitions and Rules for Taxing Foreign Currencies

Navigating the federal taxation of foreign currency can be compared to trying to cross a perilous sea. Both involve unexpected rough patches, serious difficulties, and frustrating complexity. In this ...
InvestmentNews

Reporting a client's foreign currency tax transactions - Tax News & Information - Investment News

Suppose your client decides to invest in the stock of a European company that is not traded in the United States. How would he report the transactions for tax purposes? Clients may come to you seeking ...
The Nation Newspaper

FIRS issues guidelines on tax treatment for foreign currency transactions

The Federal Inland Revenue Service (FIRS) has issued new guidelines to clarify the tax implications of foreign currency (FCY) transactions for taxpayers, tax practitioners, and tax officials. The ...
The National Law Review

Taxation of Foreign Currency Transactions Part II: Gains, Losses, Personal Transactions, and Electing Out of Section 988

We collaborate with the world's leading lawyers to deliver news tailored for you. Sign Up for any (or all) of our 25+ Newsletters. Some states have laws and ethical rules regarding solicitation and ...