STEVEN TOSCHER and MICHEL STEIN to speak on New IRS Scrutiny on Cryptocurrency Reporting: Filing Requirements & Exchange Treatment
We are pleased to announce that Steven Toscher and Michel Stein will be presenting at an upcoming Federal Bar Association/myLawCle webinar on New IRS Scrutiny on Cryptocurrency Reporting: Filing Requirements & Exchange Treatment, Thursday, January 10, 2019 from 1:00 p.m. to 3:00 p.m. (PST)/4:00 p.m. to 6:00 p.m. (EST)
This presentation will provide tax counsel, accountants and other advisers with a critical first look at new IRS initiatives on taxpayer compliance and reporting obligations for cryptocurrency (e.g. Bitcoin, Coinbase) transactions. The panel will discuss the IRS position on cryptocurrency as property rather than cash, analyze IRS monitoring to increase compliance, consider criminal investigations and prosecutions for failing to properly report cryptocurrency transactions and define proper reporting and tax treatment for “mining” and exchanging cryptocurrency.
Key topics to be discussed:
• What are the limitations on loss recognition on cryptocurrency transactions and exchanges?
• What are the income tax-reporting requirements for cryptocurrency exchanges and valuations?
• What position does IRS appear to be taking on whether cryptocurrency exchanges qualify for 1031 treatment, and the impact of the newly enacted Tax Cut and Jobs Act of 2017?
• What is the likely impact of the recent enforcement of the IRS “John Doe” summons to Coinbase?
• What are the disclosure requirements for cryptocurrency ownership?
• How to use the IRS Voluntary Disclosure policy to get into compliance and the availability of “qualified amended returns” to avoid penalties?
To Register Click Here