The US Court of Federal Claims, by decision dated July 7, held that a pastor failed to qualify for exemption from self-employment income taxes because he did not, indeed could not, comply with the requirement to file an application for the exemption (Arensmeyer v. United States).
The IRS, in late May, made public its most recent data, for tax year 2018, on the extent of noncash charitable contributions by itemizing individuals (published in the Spring 2021 issue of the Statistics of Income Bulletin). For that year, these individuals reported $83.5 billion in noncash charitable gifts on 9.2 million returns.
It is hard to believe that an underfunded and understaffed IRS, already devoting considerable enforcement resources in the charitable context with focus on syndicated conservation easements, has the capacity to meaningfully crack down on what appears to be immense tax evasion in the virtual currency setting. But recent developments indicate that the IRS is doing just that.
The ACE Act (see above) would change private foundation tax law in these respects
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