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Cpece webinars
Cryptocurrency Taxation: Nuts, Bolts, and Tax Law Updates for 2023

CRYPTOCURRENCY TAXATION: NUTS, BOLTS, AND TAX LAW UPDATES FOR 2023

Cost $50.00
CPE Credits 2.0 hours
Subject Area 2.0 - Taxes (Federal Tax)
CE Credits 2.0 hours
Course Id# - HURS9-T-01374-23-O
Course Level Basic
Instructional Method Group Internet Based
Prerequisites None
Advanced Preparation None
Course Description

Forty-six million Americans now own bitcoin. Yet, few tax professionals understand how to help individuals and businesses dealing with digital assets like cryptocurrency and NFTs. This session walks you through the tax implications of common cryptocurrency-related transactions and how to successfully service clients dealing in digital assets.

We will also cover current developments surrounding this topic, such as the updated version of the digital assets question on Form 1040; funds locked in insolvent exchanges; the tax treatment for digital assets which are substantially impaired in value (Luna); tax notices (CP2000, Letter 6173, Letter 6174, and Letter 6174-A); and tax planning opportunities.

Learning Objectives:


  • Recognize what cryptocurrencies are and their use cases

  • Identify how to safely interact with cryptocurrency and NFTs (buying, selling, and storing)

  • Determine the tax implications of investing in cryptocurrency, running a mining operation, using NFTs, and using cryptocurrency as a payment method

  • Recall challenges in dealing with cryptocurrency-related clients

  • Perform tax planning opportunities

  • Practice serving clients with cryptocurrency transactions using a tool like CoinTracker.com

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Shehan is one of the handful of CPAs in the country who is recognized as a real-world operator and a conceptual subject matter expert on cryptocurrency taxation. He is the Head of Tax Strategy at CoinTracker, a Forbes Tax Contributor, and a CPE instructor who has won multiple awards: 2020 & 2019 CPA Practice Advisor 40 under 40 accounting professionals, Outstanding Young CPA of the year, Rising Star of Texas & Among 21 accountants mentioned on Accounting Today who will be helping shape (and reshape) accounting in 2020 and beyond by Accounting Today. Shehan is a renowned speaker who has performed speaking engagements with many organizations, including Google, Coinbase, Lyft, AICPA, American Bar Association, and State CPA Societies.

 

Frequently Asked Questions
  • To receive CPE credit, you must register for the webinar before it starts.
  • CPE is available to all eligible participants within 24 hours of each webinar.
  • To receive CPE for multiple attendees, at least one person must sign up for the webinar. The post-webinar email contains a link to instructions for the proctor letter. Alternatively, you may log in to your account following the webinar and click on the MY ACCOUNT button to find a link to instructions. For paid courses, payment needs to be made for each attendee before credit will be issued.
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CPAacademy.org (Sponsor Id#: 111889) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

CPAacademy.org 1685 S. Colorado Blvd, Suite #205, Denver, CO 80222

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EA Approved

CPAacademy.org (Sponsor Id#: HURS9) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

CPAacademy.org 1685 S. Colorado Blvd, Suite #205, Denver, CO 80222

About Our Sponsor

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The Center for Accounting Transformation provides accounting professionals with a framework for utilizing innovations that are ready for adoption, the training and resources necessary to apply the innovations, and an opportunity to engage the talent and community needed in further pursuit of innovative accounting practices that drive responsible and mindful business performance. We #EnableTransformation.