Event 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. The Keeping Up the Tax Code series takes a look at recent changes to tax law from a practitioner perspective. We don’t just hurl code sections at you without explanation. Using examples, problems, and plain explanations, we explore a mix of new tax issues and areas of the code that tend to be misunderstood in a practical and straight-forward way. In this session, we will explore the nuances of virtual currency and some lesser-known areas of compliance and reporting.

Objectives

State 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 the tax effects of charitable contributions of virtual currency.