Cryptocurrency is a decentralized digital currency otherwise known as Virtual Currency. The term "Cryptocurrency" generates countless amounts of uncertainty and anxiety among tax professionals. The language, single-handedly strikes apprehension among us. This course will provide you with the confidence to deal with Cryptocurrency and will enlighten tax pros on this crazy language. So, join us in deciphering the mystery of Virtual Currency.
Learning Objectives
Upon completion of this course, participants will be able to:
Survey recent Treasury and IRS guidance
Define Virtual Currency, aka Cryptocurrency
Demonstrate types of transactions
Differentiate modes of "Wallet"
Examine and Translate Crypto's Vocabulary
Discuss common Cryptocurrency tax events
Inspect the 18 Tax Principles
Analyze IRS Notices, Revenue Rulings, FAQs concerning Crypto
Clarify the provisions of Infrastructure Bill
Critique recent Chief Counsel Advices'
Assess any FinCEN regulations
Identify and discuss Form 8938 and FinCEN 114 requirements
Formulate best practices concerning Virtual Currency
Establish an Engagement letter for our tax practices
