Current Federal Tax Developments for the week of August 5, 2019: About that Bitcoin...

IRS sends out 10,000 letters on cryptocurrency, including some demanding a response
Relief granted on three bonus depreciation elections for year that includes September 28, 2017
Draft Schedule K-1 for Form 1120S revised to change §199A information reporting
Letter ruling holds a partial deduction allowed for DNA tests requested by an individual
Organization not operated exclusively for charitable purpose, §501(c)(3) status revoked retroactively

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