Phantom Tax Consequences on Receipt of Digital Assets by Airdrop

On October 9th, 2019, the IRS released long awaited guidance on the taxation of cryptocurrency through Rev. Ruling 2019–24 and an associated FAQ, including their guidance on treatment of airdrops. The IRS takes the controversial position that the airdrop equates for taxation purposes to a dividend. As a corollary, an involuntary (and perhaps unknowing) recipient of an airdropped…

Zuber Lawler Secures Dismissal of Health Supplement Distributor’s Civil RICO Claim

Zuber Lawler client CNV.com secures dismissal of a health supplement distributor JST Distribution’s civil RICO claim.  Although the Court permitted Plaintiff an opportunity to amend its RICO claim, the Court further admonished Plaintiff’s counsel to consider the possibility of Rule 11 sanctions if including RICO claims in its anticipated amended pleading.  Id. at 12.  CNV.com is an…