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STRAFFORD SEMINAR Presented by Steven Toscher and Michel R. Stein: Tax Law 2018: New Challenges and Opportunities: New IRS Scrutiny on Cryptocurrency Reporting: Filing Requirements & Exchange Treatment

Thursday, May 10, 2018, New York City
10:45 a.m. – 12:15 p.m. Eastern Time

Steven Toscher and Michel Stein will be speaking in New York City at an upcoming Strafford seminar/webinar, New IRS Scrutiny on Cryptocurrency Reporting: Filing Requirements and Exchange Treatment scheduled for Thursday, May 10th, 10:45 a.m. – 12:15 p.m. EST.

Tax reform and other recent rules and regulations provide both obstacles and planning opportunities for practitioners. This seminar will examine recent tax legislation providing an in-depth discussion of tax reform for treatment of cryptocurrency,

The seminar will include:

  • Types of crypto currency and means of obtaining them
  • Initial tax guidance issued in IR 2014-36
  • Valuation Issues
  • Tax reporting requirements for crypto currency exchanges
  • Disclosure requirements for crypto-currency ownership
  • Criminal investigations and prosecutions for failing to properly report crypto-currency transactions
  • The use of the IRS Voluntary Disclosure policy to get into compliance and the availability of “qualified amended returns” to avoid penalties.

After completing this course, you will be able to:

  • Identify reporting risks for exchanges of one type of crypto currency for another, as well as exchanges for property
  • Recognize valuation challenges in determining gain or loss on crypto currency holdings
  • Determine proper tax treatment of increases in crypto currency due to “mining”
    Discern the character of gain or loss for crypto currency transactions
  • Verify international and domestic information reporting requirements on investments in crypto currency

After our presentations, we will engage in a live question and answer session with participants so we can answer your questions about these important issues directly.

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