Taxpayers and their advisors face an uncertain future due to volatile markets, the potential for recession still looming, and increasing interest rates. While this uncertain market presents challenges, it also creates certain wealth planning opportunities.

The economics of college sports changed in a seismic shift on July 1, 2021, when the National Collegiate Athletic Association (NCAA) adopted an interim policy allowing student-athletes to be compensated for the use of their name, image, and likeness (NIL) without impacting their NCAA eligibility. The earnings potential for nearly half a million college athletes changed radically overnight following this policy change. Boosters, supporters, and fans of college athletic programs quickly raced to establish "NIL collectives" to develop, fund, or otherwise facilitate NIL deals for student-athletes.

Andersen Global further expands its platform in Ireland through a Collaboration Agreement with Philip Lee LLP, adding complementary legal services to its existing tax capabilities in the country.

State tax departments are increasingly examining intercompany transactions within multistate businesses.

The year of 2022 turned out to be a brutal year for cryptocurrency investors, many of which had realized and/or unrealized losses in cryptocurrency investments, which may result in unexpected tax consequences.

Andersen Global continues to build its platform in Asia through Collaboration Agreements with two Nepal-based firms, tax firm Four Symmetrons Business Consulting Pvt. Ltd. (FSBC) and law firm Gandhi & Associates. The firms will work together seamlessly to deliver integrated solutions for clients in Nepal and the region as a whole.

Andersen Managing Director Jessica Hawn's comments are featured in the recent Tax Notes article, "Automatic Revenue Recognition Method Change Window May Close".

Non-fungible tokens (NFTs) experienced a huge spike in investor interest in 2021 before collapsing in 2022 along with the broader financial markets. However, there continues to be excitement around NFTs. Along with this interest, there remains much ambiguity in the taxation of gain from the disposition of NFTs by investors. If NFTs are considered collectibles for tax purposes, investors may be surprised by the significant difference in capital gains tax. Until there is clarity around how NFTs are taxed at the point of investment or sale, individuals or funds invested in NFTs will remain in suspense.