CONTINUING EDUCATION FOR TAX & FINANCIAL PROFESSIONALS

Bitcoin and Virtual Currency: What Every Tax Preparer Needs to Know

Icon_Self-Study
Self-Study
Icon_Level
Basic
Credits
CPE Credits
1 Credits: Taxes

Course Description

Welcome to the 21st century where virtual currency serves as a means to transfer assets over the Internet. Bitcoin, a form of virtual currency, enables individuals to send and receive money over a decentralized network that relies on a public ledger to authenticate and verify transactions. Using bitcoin is akin to utilizing a digital wallet; however, complexity lurks beneath the surface of these user-friendly wallet interfaces.

This course will cover what every tax preparer needs to know about bitcoin and how it works. Discover what it means to mine for bitcoins and how the currency is valued. Learn about the IRS’s position, including what it wants to know and what taxpayers need to report, as well as its enforcement attempts to discover and curtail tax evaders. Understand what to do when your client has failed to report gains or losses from bitcoin transactions on their tax returns. You’ll come away with a greater understanding of how to navigate the murky tax and reporting requirements to better help your clients (and you) avoid possible criminal tax prosecution.

Learning Objectives

Course Specifics

Course ID
8172602
Revision Date
October 31, 2019
Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-01447-19-S
IRS Federal Tax Law Credits: 1
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1347
CTEC Federal Tax Law Credits: 1

Course Instructor

David Klasing Headshot
David Klasing

As a former auditor, Mr. Klasing uses his past experience in public accounting to help his clients avoid tax problems before they develop where possible. As a Combo Attorney CPA he aggressively protects his clients’ interests during audits, criminal investigations or in Tax Litigation. David Klasing has assisted thousands of businesses and individuals through the audit / litigation and appeal process, and Mr. Klasing has a proven and sustained record of achieving favorable results for the clients he serves. Mr. Klasing is admitted to practice before all California State Courts, the United States District Court for the Central District of …

David Klasing Read More »

Bitcoin and Virtual Currency: What Every Tax Preparer Needs to Know

Expert Instructors
Format
CPE CREDITS
1 Credits: Taxes

$29.00$49.00

Clear
Icon_Self-Study
Self-Study
Icon_Level
Basic
Credits
CPE Credits
1 Credits: Taxes

Course Description

Welcome to the 21st century where virtual currency serves as a means to transfer assets over the Internet. Bitcoin, a form of virtual currency, enables individuals to send and receive money over a decentralized network that relies on a public ledger to authenticate and verify transactions. Using bitcoin is akin to utilizing a digital wallet; however, complexity lurks beneath the surface of these user-friendly wallet interfaces.

This course will cover what every tax preparer needs to know about bitcoin and how it works. Discover what it means to mine for bitcoins and how the currency is valued. Learn about the IRS’s position, including what it wants to know and what taxpayers need to report, as well as its enforcement attempts to discover and curtail tax evaders. Understand what to do when your client has failed to report gains or losses from bitcoin transactions on their tax returns. You’ll come away with a greater understanding of how to navigate the murky tax and reporting requirements to better help your clients (and you) avoid possible criminal tax prosecution.

Learning Objectives

Course Specifics

Course ID
8172602
Revision Date
October 31, 2019
Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-01447-19-S
IRS Federal Tax Law Credits: 1
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1347
CTEC Federal Tax Law Credits: 1

Course Instructor

David Klasing Headshot
David Klasing

As a former auditor, Mr. Klasing uses his past experience in public accounting to help his clients avoid tax problems before they develop where possible. As a Combo Attorney CPA he aggressively protects his clients’ interests during audits, criminal investigations or in Tax Litigation. David Klasing has assisted thousands of businesses and individuals through the audit / litigation and appeal process, and Mr. Klasing has a proven and sustained record of achieving favorable results for the clients he serves. Mr. Klasing is admitted to practice before all California State Courts, the United States District Court for the Central District of …

David Klasing Read More »

Bitcoin and Virtual Currency: What Every Tax Preparer Needs to Know

Expert Instructors
Format
CPE CREDITS
1 Credits: Taxes

$29.00$49.00

Clear