Millions of Americans earn money through the sharing and freelance economies, and the number of participants in those economies is expected to grow. The lack of automatic tax withholding from many of the participants in these new economies, along with novel compensation arrangements, has given rise to significant compliance issues for the Treasury. Further, the lack of IRS guidance to participants in the sharing economy has increased compliance risk and has also failed to inform market participants of potential tax benefits to which they may be entitled. This presentation will discuss the potential tax pitfalls and tax benefits for participants in the sharing and freelance economies.
Mary Sheets (Wesley United Methodist Church)
"Josh Wu had an excellent presentation about taxation issues in the shared economy. I found it especially helpful that he included information from the February 2019 TIGDA report, which showed both the impact of the shared economy, and the difficulty the IRS is having with related taxation. I work with a number of taxpayers with small business and shared economy income, and this information will help me serve them better."LESLIE WALSH (H&R BLOCK)
"This is a great introductory webinar. Loved the facts presented on the new sharing economy. Mr. Wu is very organized and a confident presenter. I do hope he develops a webinar just on "crowdfunding" as this is too complex for the time allowed for this course. I gained knowledge of what to ask my clients who are participating in temp rentals and occasional driving."Zia Parpia (Block Advisors Inc.)
"A whole new scope of business ideas right here with the sharing economy types of tax returns. I have learnt much more than I knew. Joshus Wu was amazing at how he structured the entire session so adequately within the time. The information is new and very useful and I will definitely share this with my co-workers, Thanks."Judie Rankin ()
"As always a great presentation by Mr. Joshua Wu, easy to understand and follow. The information shared with regard to current tax issues such as crowdfunding and the new "Sharing Economy" will be useful when preparing returns for 2019."ERNEST DUBNICOFF (CRT ASSOCIATES)
"Great overview of the taxing requirements of the sharing and freelance economies. Joshua's presentation provided the road map for our tax planning discussions with our shared economy clients. Another valuable tool from CPAacademy"Monique Nicole Desir, EA (M N Tax Resolution Svcs)
"Thanks so much for this outstanding presentation. I always learn something new from each of your classes. Job well done, Josh. as usual!. You are an exceptional instructor, presenter, speaker...."Leela Ramanadham (H&R Block)
"A veery Lively session frm a ery knowledgeable Instructor Joshua Wu ! Learnt a lot. After registering, I looked up some info on what some terms mean, so I would not feel lost durig his session !"shigeyo kikuchi (UStaxmatters, LLC)
"It was a great compilation of important points that we pay attention now and from now with accurate information resources. Thank you very much!"
Latham & Watkins LLP
Counsel
joshua.wu@lw.com
(202) 637-3376
Joshua Wu, a former Deputy Assistant Attorney General (DAAG) for Appellate and Review in the Tax Division of the US Department of Justice (DOJ), counsels and advocates for companies and high-net-worth individuals on all aspects of tax controversies and litigation. Mr. Wu advises on tax accounting disputes, corporate and partnership transactional issues, international questions, employee benefits matters, and tax-exempt controversies. He brings a unique knowledge base and skill set to his clients, drawing on his experience both in senior leadership roles in the DOJ’s Tax Division and private practice.
Most recently, when Mr. Wu served as DAAG, he oversaw virtually all appeals in civil federal tax cases throughout the country and managed a 40-lawyer team. He also represented the United States in oral appellate arguments, evaluated and approved significant civil settlement offers, and furnished advice to the Tax Division’s trial sections in complex tax cases.
Mr. Wu previously served as DAAG for Policy and Planning, where he led the Office of Management and Administration (OMA) at DOJ. In that role, he led the operational functions of the Tax Division and led the Office of Legislation and Policy, which works with the Department of Treasury, the IRS, and other agencies on legislative, regulatory, and policy initiatives. Before his government service, Mr. Wu was a partner at a large international law firm.