IRS Form 1099, 1099-NEC, and Form 1099-MISC: Advanced Issues and Updates

Taxes and Cryptocurrency (OnDemand Webinar)

$149.00

SKU: 411291EAU

Description

Understand the terminology and application of tax law in the context of cryptocurrencies and digital assets.Many attorneys, accountants, and advisors struggle with the everchanging terminology used by enthusiasts of cryptocurrencies and digital assets, as well as how to apply tax law to determine the results of the myriad transactions that are possible. This presentation will help define the terminology, explain how it’s used, and provide a framework to apply the new technology and terminology to existing tax law, as well as gain an understanding of the various proposals from Congress and state legislatures, and the regulatory efforts from the Treasury and IRS. While the terminology and transactions may be difficult to understand, this presentation will help quiet the noise from internet tax advisors to provide concrete guidance.

Date: 2024-05-14 Start Time: End Time:

Learning Objectives

Cryptocurrencies, NFTs, Tokens, Coins, etc. (Digital Assets)
• Description of the Types of Assets and Alphabet Soup

Federal Income Taxation of Digital Assets
• Notice 2014-21 (Property V. Currency)
• Capital V. Ordinary
• Can I Deduct My Losses?
• Rewards: Mining; Staking, Baking, and the Jarretts
• Airdrops, Soft Forks, and Hard Forks
• NFTs
• Other Tokens

State-Specific Income Tax Issues (Sourcing and Sales Taxes)
• Sourcing for Income Tax and Sales Tax Issues
• Whether Sales Tax Will Be Imposed

Backup Withholding Issues
• Defining Backup Withholding
• Explaining How It Is Used
• Proposed Regulations From Treasury/IRS

AIPB ,CLE (Please check the Detailed Credit Information page for states that have already been approved) ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.

Matthew E. Foreman, J.D., LL.M.-Falcon Rappaport & Berkman LLP

IRS Form 1099, 1099-NEC, and Form 1099-MISC: Advanced Issues and Updates

Taxes and Cryptocurrency (OnDemand Webinar)

$149.00

SKU: 409153EAU

Description

Gain an understanding of how to engage in cryptocurrency and maintain state and federal compliance.Cryptocurrencies are quickly becoming a core part of the financial mainstream, with institutional and retail investors building them into their portfolios. It is important to understand the structure and complexities of cryptocurrency, as well as the taxation and escheat implications associated. This topic will explain the intricacies of cryptocurrencies so you will be able to recognize both how cryptocurrencies work and the variety of crypto products. The material will also analyze the federal and state legislation and regulation requirements required for maintaining federal tax and escheat compliance.

Date: 2021-10-19 Start Time: End Time:

Learning Objectives

Background on Digital Assets
• DLT and Blockchain
• What Is Cryptocurrency?

Using Cryptocurrency
• How Is Cryptocurrency Created?
• How Is Cryptocurrency Stored?
• What Are Smart Contracts?

Types of Cryptocurrency
• Decentralized Apps and Decentralized Finance
• What Are NFTs?

Federal Tax Implications of Cryptocurrency
• How the IRS Views Digital Assets
• The Basic Income Tax Treatment of Key Transactions; Sales, Exchanges, Air Drops, Forks, NFTs, Mining Activities
• Tax Reporting and Compliance

Unclaimed Property Implications
• Unclaimed Property Application to Cryptocurrencies
• Compliance Tracking and Limitations
• Liquidation Implications of Cryptocurrency

AIPB ,CLE (Please check the Detailed Credit Information page for states that have already been approved) ,CPE ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.

Lori Hellkamp-Jones Day, Mark Rasmussen – Jones Day, Jennifer Waryjas – Jones Day