What the IRS Gets Wrong About DeFi and Crypto in Its Latest Tax Reporting Proposal

(Beth Macdonald/Unsplash)


The APA requires a reviewing court to set aside agency action that is “arbitrary, capricious, an abuse of discretion, or otherwise not in accordance with law,” “contrary to constitutional right,” “in excess of statutory jurisdiction,” or “unsupported by substantial evidence.” The proposal, if finalized, would fail each requirement.


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