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 webinar session intends to give you a high-level, non-technological understanding of the history of cryptocurrencies and the taxation of common cryptocurrency related transactions. This session also covers current developments surrounding this topic such as the inclusion of the virtual currency question on the front of Form 1040, how to successfully navigate through tax notices (CP2000, Letter 6173, Letter 6174 & Letter 6174-A) and tax planning opportunities.
Identify the opportunities and challenges posed by cryptocurrencies
Recall cryptocurrencies’ history
Determine how everyday cryptocurrency transactions are taxed
Identify recent developments in cryptocurrency, tax planning opportunities