Taxation
Ca. Tax Lawyer 2018, Volume 27, No. 1
Content
- 2017 Annual Meeting of the California Tax Bar & California Tax Policy Conference Report
- A Toast to Women in Tax
- Bar Business
- Contents
- Justin T. Miller Honored with the 2017 V. Judson Klein Award
- Masthead
- Message from the Chair
- Proposed Methods to Enhance the Implementation and Enforcement of the Expatriation Tax (Irc § 877A)
- Steven Toscher Honored with the 2017 Joanne M. Garvey Award
- Taxation Section 2017-2018 Leadership Directory
- U.S. Tax Reform: International Provisions
- Understanding Intangible Assets and Real Estate: a Response to the Iaao Committee's Guide
- Valerie Dickerson Honored with the 2017 Benjamin F. Miller Award
- Non-Taxable Crowdfunding—Amending Reporting Requirements to Reflect Social Changes
Non-Taxable Crowdfunding—Amending Reporting Requirements to Reflect Social Changes1
By Michelle B. Graham, Catherine M. Swafford & Kelina M. Smith2
I. BACKGROUND
A. The Emergence of Crowdfunding
Around 2010, during the recession and government bailouts of corporate banks and automakers, a type of social-civic "bailout" by private citizens emerged known as "crowdfunding." According to the website YouCaring, crowdfunding is defined as "the practice of funding a project or cause by raising money from a large number of people, typically through the Internet. It is a form of peer-to-peer fundraising that harnesses the power of social networks to raise awareness and draw donations from around the world for online campaigns."3 Similarly, Wikipedia defines crowdfunding as "the practice of funding a project or venture by raising monetary contributions from a large number of people."4