A Simple Approach and Overview to Virtual Currency FLEXCAST

Overview

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.

Highlights

Tax treatment of cryptocurrency.

Prerequisites

None.

Designed For

CPAs and tax professionals.

Objectives

Survey recent Treasury and IRS guidance. Define cryptocurrency. Demonstrate types of transactions. Differentiate modes of a 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.

Preparation

None.

Notice

This is a FlexCast (no exam required) and may be viewed only Monday - Saturday, 5am - 5pm PT. You may take up to one year from the date of purchase to complete the course. Pause your FlexCast and resume at a convenient day during the hours above. Partial credit for 2+ credit courses: If you are unable to complete the course in one sitting, partial credit can be awarded (minimum of one credit). To earn the remaining credits, you must return later and start the course from the beginning. Use chat to ask questions of a subject matter expert during the program.