Capital Markets Tax Quarterly

Volume 3, Issue 3

Mayer Brown’s Capital Markets Tax Quarterly provides capital markets-related US federal tax news and insights. In this issue of CMTQ, we look at Q3 2020.

We discuss:

• IRS Issues Final Section 163(j) Regulations
• Final Partnership Withholding Regulations
• Connell v. Commissioner: Financial Advisor Debt Cancellation was Ordinary Income
• IRS issues Chief Counsel Advice 202035011 addressing the taxation of convertible virtual currency on crowdsourcing platforms
• Final Regulations on Sourcing Sales of Inventory
• Revenue Procedure 2020-44