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Blockchain Implications for Tax

  • 10/13/2020
  • 8:00 AM - 4:30 PM


Registration is closed

As Bitcoin becomes more mainstream, the use of its enabling technology, blockchain, will also become more frequent. Already, blockchain is impacting the tax services industry and will continue to do so in the future. This webcast discusses blockchain technology and teaches you how to master current tax issues, anticipate new challenges and create value for yourself and your clients with this new technology.    The focus of this webcast is distributed ledger technology (DLT), and we will explore numerous related topics, including smart contracts, digital assets, private blockchain, governances and taxation. You will also learn about relevant principles, insights and frameworks that will be valuable for tax professionals long after the completion of the webcast and the unfolding of blockchain technology.      By the end of this webcast, you will have a stronger understanding of topics, application and regulatory perspectives associated with blockchain technology, so you can better understand how it affects your clients and organization.   

Learning Objectives: 

    • Identify the impact of technology on taxation
    • Recognize the elements of DLT
    • Recall how digital assets can impact taxable transactions
    • Identify the tax implications of private blockchains
    • Identify the potential tax impact of blockchain governance issues
    • Analyze the current state of DLT regulation
    • Recognize the causes for tax abuse and the uncertainty surrounding digital asset transactions
    • Distinguish between terms the blockchain, bitcoin and DLT
    • Differentiate between private blockchains and public blockchains
    • Identify on-chain and off-chain assets
    • Compare the "nternet of Information" to the "Internet of Value."
    • Recall the elements of a smart contract
    • Identify the regulatory authorities that govern digital assets
    • Distinguish how "Crypto-Economics" is different from traditional economics.

    Topics Discussed: 

    • Fintech revolution
    • Distributed ledger technology
    • Digital assets
    • Private blockchains
    • Smart contracts
    • Governance
    • Blockchain regulations
    • Taxation of blockchain transactions  
    Designed For: Auditors of businesses and management of businesses that are utilizing blockchain technology.  Accountants with clients or within organizations who are holding, trading, or issuing digital assets.

    Level: Intermediate

    Instructor: David Jarczyk

    Developer: AICPA

    CPE Credits: 8.5

    Area of Study: Information Technology 5; Taxes 3.5

    Prerequisite: Basic knowledge of blockchain technology

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