Cryptocurrency and Taxes: How does taxation work on it?

Cryptocurrency and Taxes How does taxation work on it
Mar13

Written by Taher Kameli & Shabnam Mahammadli Cryptocurrency is a digital representation of value that can serve as a medium of exchange, a unit of account, and a store of value.[1] Although often held for investment purposes, the IRS has acknowledged that cryptocurrency may also be used in a manner similar to “real” currency, namely, to pay for goods or services. However, as no country has recognized any cryptocurrency as a form of legal tender, the IRS does not allow taxpayers to treat cryptocurrency as real currency, such as the US Dollar and the Euro.[2] As a

March 13, 2021
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Biden Administration Partially Lifts Green Card Ban

Biden Administration Partially Lifts Green Card Ban
Mar04

Written by Taher Kameli & Chathan Vemuri   This week, a major Trump-era immigration ban has been considerably rescinded by executive order.[1] On Wednesday 24th, 2021, the Biden administration lifted the Trump administration’s immigrant visa ban for many green card applicants.[2] The ban was originally imposed on April 2020, under an order known as Presidential Proclamation 100014[3], and was justified as being necessary to protect American workers in the midst of the COVID-19 pandemic.[4]  Under the ban, the Trump administration froze the issuing of green cards for new immigrants and stopped temporary work visas for

March 4, 2021
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Biden Reverts Naturalization Test to 2008 Version

Biden Reverts Naturalization Test to 2008 Version
Mar01

Written by Taher Kameli & Chathan Vemuri In another reversal of Trump-era immigration policy, the Biden administration struck down the revised naturalization civic test implemented on December 1, 2020, replacing it with the older 2008 version of the test that had been in force up till that time.[1] This was done as part of President Biden’s February 2 Executive Order on “Restoring Faith in Our Legal Immigration System.”[2] The USCIS will go back to the 2008 test as of March 1, 2021, although there will also be an interim period during which both tests will be offered for

March 1, 2021
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The USCIS Rescinds Stringent Professional and Educational Requirements for H-1B Petition Adjudications in Response to Ninth Circuit Challenge

USCIS Rescinds Stringent Requirements for H-1B Petition
Feb24

Written by Taher Kameli & Chathan Vemuri On February 3, 2021, in what is sure to be welcome news for H-1B applicants, United States Citizenship and Immigration Services rescinded the 2017 Policy Memorandum PM–602-0142 that it previously issued under the Trump administration.[1] Under the 2017 Policy Memorandum, the USCIS discarded the US Department of Labor’s (DOL) classification of occupations covered by the H-1B program, specifically rejecting the DOL’s requirement that positions within that particular classification of H-1B occupations required only bachelor’s degree in computer science or a related field for entry.[2]   The USCIS also disagreed with

February 24, 2021
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President Biden Reinstates Deferred Enforced Departure for Eligible Liberian Nationals in the U.S.

Liberian Nationals Eligible for Deferred Enforced Departure
Feb23

Written by Taher Kameli & Chathan Vemuri At the very beginning of his term in office, President Biden has put immigration reform at the top of his agenda, passing a series of executive orders challenging and even overturning President Trump’s immigration policies.[1] Be it rescinding the Muslim travel ban or restoring DACA, the Biden administration has made impressive gestures towards repairing an immigration system affected by the Trump administration’s more exclusivist hardline policies.[2] One particular change of note is the President’s revival of the Deferred Enforced Departure program.[3] This program, which covers around 4,000 long-term

February 23, 2021
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Southern District Court of Texas Overrules Biden Administration’s Deportation Moratorium

Texas Overrules Biden Administration Deportation Moratorium
Feb18

Written by Taher Kameli & Chathan Vemuri The first two weeks of the Biden presidency has seen a dramatic pause on many of the Trump administration’s most controversial immigration policies, from ending the Muslim ban to reversing the policy focusing immigration law enforcement on any undocumented person regardless of criminal status or lack thereof, to ending an emergency declaration to divert funds to proposed border wall.[1] Yet opposition to these reversals remains as strong as ever in those states where the former President still commands high levels of support. In Texas last week, one state attorney general was able to

February 18, 2021
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USCIS H-1B Lottery Process Will Remain Unchanged for the Following Year

USCIS H-1B Lottery Process Will Remain Unchanged this Year
Feb16

Written by Taher Kameli & Chathan Vemuri In what is sure to be welcome news for H-1B visa applicants, the US Citizenship and Immigration Services ( USCIS ) announced that the H-1B electronic registration and lottery process for this year would be identical to that of last year, as opposed to the Trump administration’s proposal to make the lottery of H-1B visas dependent on wage levels for H-1B positions.[1] Under the Modification of Registration Requirement for Petitioners Seeking to File Cap-Subject H-1B Petitions rule (Modification Rule), H-1B application cases would have been prioritized according to the wage level

February 16, 2021
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How Confronting The Past Can Change Our Future

How Confronting The Past Can Change Our Future by Taher Kameli
Feb11

Written by Taher Kameli On Wednesday, January 20, 2021,  the U. S. witness the change when former Vice President Joe Biden was sworn in as the 46th President of the United States. It was the culmination of a vicious presidential campaign that effectively served as a referendum on the performance of Donald Trump.[1] A campaign that saw Trump’s most fervent supporters come out in record numbers to keep him in the White House, as well as new voters too.[2]   After, a volatile election the result was not even known for almost a

February 11, 2021
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Evolve Federal Credit Union v. Barragan-Flores

Loan Cross-Collateralization FCU v. Barragan-Flores
Feb08

Written by Taher Kameli & Chathan Vemuri The practice of cross-collateralization involves using an asset as collateral for another loan in addition to an earlier loan.[1] In the event that a debtor cannot make repayments on either loan on time, lenders can force the liquidation of the asset and use the proceeds to repay the debt on the loan.[2] This practice is used in “various forms of financing, from mortgages to credit cards.”[3] Should the debtor be unable to make timely payments on either of the loans, the debtor can establish a bankruptcy plan

February 8, 2021
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President Biden Withdraws Trump’s H-4 EAD Proposal

President Biden Withdraws Trump’s H-4 EAD Proposal
Feb04

Written by Taher Kameli & Chathan Vemuri Among the many changes to Trump’s hardline immigration policies pursued by the Biden administration during his first two weeks in office, President Biden’s latest action has been to withdraw a proposed rule of the Trump administration concerning H-4 EAD holders.[1] Under the proposed rule (which was introduced in 2019[2]), the H-4 EAD program would have been rescinded, preventing spouses of H-1B visa holders from getting paid employment in the U.S.[3]   Nevertheless, this has brought great relief to spouses of H-1B visa holders who

February 4, 2021
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