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This page is dedicated to any public comments to tax authority changes, fights we're taking on to challenge certain tax positions, or any giving back to the community.

IRS Request for Comment on Form 1099-DA - Digital Assets

The IRS will be accepting public comments related to the new draft Form 1099-DA, reporting for digital assets, until Wednesday, November 6, 2024. Click the link below to provide your own comment:

Comment on draft Form 1099-DA

See how your CPA commented:

The current form shifts the burden of reporting almost entirely to taxpayers and tax professionals, who already struggle to file tax returns by the extended deadlines, by requiring a unique 1099-DA for each asset having a unique cost basis, which could result in thousands of 1099-DAs for some taxpayers. The current Draft Form 1099-DA should be replaced with a summary form allowing for a summary of all calendar year short-term gains (losses) and long-term gains (losses) to be reported from each broker (e.g., Coinbase, etc.). By requiring brokers to submit accurate "Summary Forms" and allowing taxpayers and preparers to report only summary gains and losses, the probability of taxpayers and preparers submitting erroneous individual transactions would decrease significantly.

2024 New Venture Challenge

The New Venture Challenge is a premier venture competition available for all Central Michigan University students. NVC consists of five competitive tracks with over $100,000 in total cash prizes - awarded to the top ventures and innovative ideas. Through the New Venture Challenge students learn start-up skills, build key relationships, pitch their ideas, and compete for funding. To help students bring their idea to life, NVC hosts a series of workshops, mentor meetups, and networking events that engage the entrepreneurial mindset.
As an alumni and former competitor, Matthew had the honor of mentoring NVC teams from the perspective of an entrepreneurial accountant, and donating a year of free CPA services to North Woods Music.