Description

Whether you are an experienced veteran or new to the industry, one of the toughest parts of being a tax practitioner is keeping up with all of the changes in tax legislation. This course takes a look at recent changes to tax law from a practitioner perspective. In this session, we will explore the nuances of virtual currency and the new Form 8300 reporting requirements.

Target Audience

Accounting and finance professionals who advise on business income tax issues

Course Objectives

• Understand which virtual currency transactions result in gains and losses for the taxpayer
• Recognize the difference in tax treatment between a hard fork and a soft fork
• Identify situations where a taxpayer needs to file Form 8300

Subjects

• Overview of virtual currency
• Property transactions with virtual currency
• Receiving virtual currency as payment
• Paying using virtual currency
• Charitable donations with virtual currency
• Gifting of virtual currency
• Form 8300 reporting