Register Online - Add to Cart

Credits

Sponsored by Lorman Education
Product ID: 409153EAU
 
Credit & Course Provided by:

Taxes and Cryptocurrency

OnDemand Webinar (70 minutes)

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.

Authors

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

Agenda

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