It’s Friday afternoon, and you know what that means… yes, it’s time for the REM Cycle Review, your weekly tax news roundup. So pull up a chair, grab some coffee, and prepare to be dazzled.
New Jersey launches extensive tax amnesty program. We’ll be diving deep into this topic in next Tuesday’s blog post, but here’s a quick primer to whet your appetite. [www.nj.com]
IRS Advisory Council says taxpayers should be permitted to pay taxes using virtual currency. Considering the rising number of taxpayers who use or invest in virtual currencies, this isn’t unreasonable. [Forbes]
U.S.-based tech companies may be in for a rude tax awakening. French Minister Bruno Le Maire urged the European Union member nations to raise taxes on tech giants like Apple, Microsoft, and Amazon: “I cannot accept to have Google, Amazon, or Facebook paying less taxes ... than my butcher or my bookshop.” [FastCompany]
Check your wallet. No, not that one. If you use cryptocurrency, you probably use a virtual currency wallet app to manage your money, send and receive payments, etc. It’s a simple, real-time way to keep track of your funds. Except when the wallet’s a fake and you’ve been scammed. [Ethereum World News]
The REM Cycle Review is a weekly compilation of newsworthy articles pertaining to taxation, accounting, and life in general. Got a hot tip? Email us at REMCycle@rem-co.com.