Overview
Cryptocurrency can be a very confusing issue for a client in both compliance and in planning. This course will assist the practitioner in understanding the tax aspects of cryptocurrency from a federal compliance standpoint.
**Please Note: If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to leighanne.conroy@acpen.com.
Prerequisites
None
Objectives
- To discuss tax aspects of cryptocurrency from a federal compliance standpoint
Highlights
- Introduction to cryptocurrency
- Understanding the term “blockchain”
- Various types of cryptocurrencies
- Why cryptocurrency is popular
- Investment attributes of cryptocurrency
- Tax aspects of cryptocurrency
- Position of the Internal Revenue Service
- Understanding Notice 2014-21 (IRS Virtual Currency Guidance)
- Understanding Notice 2014-21 FAQs
- Compliance issues
- Charitable issues
- Internal Revenue Service enforcement
