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  • The IRS Is Seeking Public Comment On Whether They Should Tax NFTs Like Works Of Art
    Tax Lawyer

    The IRS Is Seeking Public Comment On Whether They Should Tax NFTs Like Works Of Art

    March 23, 2023 /

    Yesterday, the IRS declared that it is soliciting reviews on how to take care of nonfungible tokens (NFTs) for tax reasons. Far more specially, it is considering no matter if to deal with NFTs as “collectibles.” For tax reasons, a collectible is handled likewise to that of a cash asset other than that when it is offered following much more than 1 calendar year of possession, any obtain understood has a maximum prolonged-term money gains tax fee of 28{c024931d10daf6b71b41321fa9ba9cd89123fb34a4039ac9f079a256e3c1e6e8}. This does not use to persons who held their NFTs for much less than one particular calendar year who would be taxed at normal revenue tax rates. Also, entire-time NFT sellers…

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    Nicholas Allbright Comments Off on The IRS Is Seeking Public Comment On Whether They Should Tax NFTs Like Works Of Art

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  • AI Works – The Future of Intellectual Property Law
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    AI Works – The Future of Intellectual Property Law

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    AI Works – The Future of Intellectual Property Law[1] AI has developed substantially and over the course of time carried out feats describable as miraculous. Repeated triumph over humans in chess and beating a professional 5-0 in the game Go[2] without any handicap, are instances of superseding human intelligence. Proliferation of internet into everyday lives and dependency on it has led to predictive algorithms and other models have evolved to a new concept – machine learning.  Copyright regimes globally have had limited encounters with works created through computers. But granting protection to them was not a difficult task since the work always had a human ‘mind’ enabling it. AI, however,…

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    Nicholas Allbright Comments Off on AI Works – The Future of Intellectual Property Law

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