Overview:
This program will examine what guidance exists for cryptocurrency on the date of the program and how practitioners can become comfortable working in the unknown emerging areas of the cryptocurrency industry. Some of the topics that will be covered are how to use the history of cryptocurrency development to identify the critical features of new technologies to separate the hype from reality and then how to use that reality to import properties from other areas of tax to let clients find a reasonable basis for a filing position.
Objectives:
• Determine the basics of cryptocurrency taxation and how to approach new technologies through the existing tax framework • Identify what weight IRS guidance should be given in this emerging area and how to set expectations with clients • Determine what constitutes a tax return signing position for an item of cryptocurrency gain or loss when no clear guidance exists on the topic
Major Topics:
• Cryptocurrency • Capital gains and losses • Evaluating IRS sub regulatory guidance
Major Topics:
• Cryptocurrency • Capital gains and losses • Evaluating IRS sub regulatory guidance
Designed For:
CPAs, attorneys, financial professionals, EAs and professional staff.
Prerequisites:
None