2020-2021 saw tremendous increases in individual, corporate and Wall Street ownership in cryptocurrency. This increased ownership brings increased buying, selling, trading and tax reporting. This program offers a brief review of what cryptocurrency is and the IRS position on tax reporting. The program then delves into intermediate issues including reporting strategies, IRS John Doe Summons issues (Coinbase) and other IRS enforcement priorities.
· Broaden your understanding of cryptocurrency.
· Understand the IRS position on reporting cryptocurrency transactions.
· Distinguish between various reporting strategies.
· Become familiar with IRS enforcement priorities.
Prerequisite: Basic understanding of tax aspects of cryptocurrency
Chester, New York based John Sheeley, EA began his career in the tax industry in 1987, passing the IRS special enrollment exam in 1995. His career includes 13 years as a multi-unit franchisee of a national tax firm and 5 years as a tax manager at...