On Demand Webinar

Nuts & Bolts of Cryptocurrency Taxation and New Law Update

Webinar Details $219

  • Rated:
  • Webinar Length: 60 Minutes
  • Guest Speaker:   Shehan Chandrasekera
  • Topic:   Taxation and Accounting
All Access Membership

Course Description: Blockchain technology and cryptocurrencies such as bitcoin and ether are two trending topics in the fin-tech world. Yet, few business professionals can grasp the intricacies, opportunities and challenges posed by this new technology. This session intends to give you a high-level, non-technological understanding of the history of blockchain/cryptocurrencies and the taxation of common blockchain related transactions. This session also covers current developments surrounding this topic, and especially on how to successfully navigate through tax notices such as CP2000, Letter 6173, Letter 6174 & Letter 6174-A.

Learning Objectives:

  • Learn history of blockchain and cryptocurrency 
  • Tax implications related to investing in cryptocurrency
  • Tax implications related to running a mining operation
  • Tax implications related to using cryptocurrency as a method of payment
  • Tax implications related to exchanges of cryptocurrency
  • Foreign reporting related to cryptocurrency transactions
  • To learn IRS position on taxation of cryptocurrencies and current developments
  • Tax planning opportunities
  • Learn New developments in this space (new tax law update and IRS notice letters)
  1. Introduction
  2. Bio 00:02:27
  3. Contents 00:02:42
  4. Fun Fact 00:05:00
  5. Where Are We Now?
  6. What is Bitcoin? 00:11:46
  7. Tax Overview 00:15:16
  8. Investors 00:16:59
  9. Investors - Examples 1 & 2 00:19:12
  10. Investors - Example 3 00:302:23
  11. Investors - Sample Report 00:23:28
  12. Important Tax Forms - Form 8949 00:25:22
  13. Miners 00:27:35
  14. Payer/Payee 00:29:50
  15. Like-Kind Exchanges 00:32:12
  16. Foreign Reporting 00:33:37
  17. Latest Developments 00:36:50, 00:36:54
  18. Key Highlights of 43 FAQs and 2019-24 00:37:21
  19. Key Highlights of 43 FAQs and 2019-24 (cont’d) 00:42:40
  20. Latest Developments - Partnership with Chainalysis 00:43:48
  21. Latest Developments - Tax Notices 00:46:23
  22. Tax Planning Opportunities 00:49:58
  23. Tax Planning Opportunities - Wash Sales Rules 00:50:05
  24. Tax Planning Opportunities - Tax Status 00:52:48
  25. Tax Planning Opportunities - Crypto as Collateral 00:55:21
  26. Why Accountants Need to Care? 00:56:36
  27. Q & A? 00:59:23
  28. Presentation Closing 00:59:39
  • 1031 Exchanges 00:32:42
  • Bitcoin 00:02:51, 00:08:18
  • Blockchain 00:02:52, 00:12:27
  • Cryptocurrency 00:15:29, 00:32:19
  • DigiCash 00:07:23
  • FATCA 00:33:37
  • FBAR 00:33:37
  • FIFO 00:18:53
  • Form 1099-B 00:17:54
  • Form 1099-K 00:18:00
  • Form 1099 MISC 00:29:50
  • Form 8949 00:24:48, 00:25:22
  • Form W-2 00:29:50
  • IRS Notice 2014-21 00:09:44,00:15:53
  • Like-Kind Exchange 00:32:15
  • Rev. Rul. 2019-24 00:10:56, 00:36:54

Guest Speaker

  • Shehan Chandrasekera, CPA