2024 MSCPA Annual Convention: Details

Dealing with Incomplete Virtual Currency Guidance 202

← Return to The CPE Catalog
Monday, December 16, 2024 @ 11:00am 12:00pm
Add to Calendar

Description

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.

Prerequisites

None

Highlights

• Cryptocurrency • Capital gains and losses • Evaluating IRS sub regulatory guidance

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

Preparation

Some knowledge of income tax is preferred.

Credits

Category Amount
Taxation 1.00