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 ...
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 ...
Forbes

Cross-Border Transactions: Foreign Laws And U.S. Tax In A Borderless World

Forbes contributors publish independent expert analyses and insights. Admitted NY Bar and US Tax Court, covers US international tax law. In today’s interconnected world, borders blur while regulations ...
WTOP News

Foreign Transaction Fees by Bank

There’s no doubt that traveling abroad can be expensive. Accounting for expenses including airfare, hotel stays, meals and excursions, you’ll need to budget and save for a big trip so you don’t rack ...
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 ...