James   Markwood
Principal

Contact

Phone: 703.745.1806
Fax: 703.745.1835
Mailing: 8000 Towers Crescent Drive ,
Suite 1400 , Tysons Corner , VA   22182
Linkedin: James Markwood

PRACTICE FOCUS

Jim Markwood is an accomplished tax attorney with experience working with corporate and private equity clients, partnerships and entrepreneurs to optimize the tax consequences of their business decisions.  He has extensive knowledge in a wide range of tax matters including federal, state and international tax issues. He provides tax and structuring advice on corporate, partnership and cross border transactions. In addition to advising on tax issues raised in transactions, Jim reviews and assists in drafting transaction documents, including Rep and Warranty insurance policies. Jim’s wide range of clients include government contractors and aerospace and defense companies.  A former Congressional Legislative Assistant, Jim has drafted and advocated for tax legislation before the U.S. Congress

With a nod toward technology, Jim has developed an expertise in taxation of cryptocurrency transactions. He has contributed articles to CoinBase magazine addressing tax aspects of cryptocurrency transactions (including hard-forks, and crypto to crypto “like-kind” exchanges). Jim regularly counsels clients regarding tax aspects of ICO transactions, and structuring crypto businesses to achieve favorable tax treatment.

Jim received his BA in Political Science from American University and his JD from the University of Virginia Law School. He is admitted to practice in Virginia and the District of Columbia.

 

 

Education & Admissions

  • J.D., University of Virginia Law School
  • B.A., American University
  • Virginia
  • District of Columbia

Posts

Challenge to Section 280e Ban on Tax Deductions for Legal Cannabis Business Goes to Ninth Circuit

A California cannabis business this week filed an appeal of its tax case to the Ninth Circuit Court of Appeals,…

IRS Position Unclear On Whether Crypto To Crypto Exchanges Before 2018 Qualified For Like-Kind Exchange Treatment

The 2018 Tax Act changed the like-kind exchange rules (IRC Sec. 1031) to narrow their application to exchanges of real…

IRS Issues New Guidance On Cryptocurrency

New Rulings Address Tax Treatment of Crypto Coins Received in “Hard Forks” and “Airdrops” The Internal Revenue Service issued guidance…

The Tax Implications of The Tax Cuts and Jobs Act of 2017 on Divorce

Co-authored by: Richard A. Gray and Jim Markwood The Tax Cuts and Jobs Act (TCJA),  P.L.115-97, passed by Congress on December 22, 2017…

Latest Tax Court Case Delivers Blow To State-Legal Marijuana Businesses On Application Of IRC Section 280e

A decision of the US Tax Court issued on November 29 in Patients Mutual Assistance Collective Corporation (D.B.A. Harborside Health…

Thinking About Hiding Money From The IRS In Offshore Bank Accounts? Don’t Go There!

The US Department of Justice this week announced that a US resident faces three years in prison and fines after…

The 2017 Tax Act Eliminated Deductions For Entertainment, But IRS Issues Guidance Stating That Business Meals Remain Partially Deductible

Prior to the change made by the 2017 Tax Act, taxpayers could deduct up to 50 percent of entertainment expenses…

IRS Shoots Down States’ Efforts to Circumvent Federal $10,000 Limit on Deduction for State and Local Tax Payments

This week, the IRS announced new regulations to thwart efforts by some states to circumvent the $10,000 limitation on individuals’…