Tax Implications of Cryptocurrency
This course presents an overview of blockchain and the tax implication of cryptocurrency transactions.
This course presents an overview of blockchain and the tax implication of cryptocurrency transactions. The IRS has provided some recent guidance, but potentially conflicting pronouncements by other regulatory agencies have created uncertainty on reporting issues. This course will help the practitioner understand when a taxable transaction has occurred, what reports to file to satisfy IRS requirements, and identify tax traps for the unwary.
Who should Attend: This course is suitable for Corporate tax and finance executives, directors, managers and staff, CPAs, Enrolled Agents, accountants, attorneys, and business/financial advisors who work with and advise individuals or businesses that use or invest in cryptocurrency. All in-house and public practice professionals involved with tax compliance and planning will benefit from this timely and insightful seminar.
· Blockchain basics
· Classification of cryptocurrency
· IRS Notice 2014-12
· Tax implications of airdrops, mining, hard forks, margin trading, purchasing of goods or services with cryptocurrency.
· Gift tax rules for donating, gifting, or bequeathing cryptocurrency.
· Traps for the unwary.
Field of Study: Taxes