Tax compliance for Bitcoin and virtual currencies
Global uncertainty over the last year has made cryptocurrencies like Bitcoin and Dogecoin skyrocket then plummet in value, in true market volatility, affecting client accounting as well as tax filings. These new virtual mediums present alternative methods to buying and saving, but how does it impact taxes?
The IRS estimates 18-21 million taxpayers will need to consider crypto when filing their return and firms need to be armed with the knowledge and tools to navigate the new world of crypto-compliance. Join Shaun Hunley from Thomson Reuters and Ledgible’s John Wandrisco for an expert discussion on navigating the compliance complexities of cryptocurrency.
Our cryptocurrency experts will provide you with insight into the world of virtual currencies so you can better serve your clients. From the very first days of Bitcoin in 2008 to the present reality of the bull/bear market cycles, they will discuss the tax consequences of cryptocurrency and give you answers on specific issues like the dreaded virtual currency question on the 1040 form and how to avoid the crypto digital shoe box.