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Tax Implications of Cryptocurrency

  • 07/26/2021
  • 8:30 AM - 10:30 AM
  • Webinar - CPA Crossings

Registration


Registration is closed

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.

The practitioner will be helped to understand when a taxable transaction has occurred and what reports to file to satisfy IRS requirements. We will also identify tax traps for the unwary.

This information 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.

This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Learning Objectives:

  • 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.
Program Content:
  • Balance sheet analysis
  • Income statement analysis
  • Cash flow statement analysis
  • Clues in the notes and MD&A
  • Industry nuances

Designed for: All in-house and public practice professionals involved with tax compliance and planning

Level: Basic

Instructor: Allison M. McLeod, LL.M., CPA

Developer: Allison M. McLeod, LL.M., CPA. A PLLC

CPE Credits: 2

Area of Study: Taxes

Prerequisite: None


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