IRS Form 1099-DA Draft 1 Credit
Implications, Discussions, and Insights
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Dec 03, 2024 | 10:00 AM
ET
As the digital asset landscape continues to evolve, tax and accounting professionals face new challenges in ensuring compliance with IRS regulations. The introduction of Form 1099-DA marks a significant development in this regard, aiming to streamline the reporting of digital asset transactions, including cryptocurrencies and non-fungible tokens (NFTs).
In this informative webinar, participants will delve into the intricacies of Form 1099-DA, gaining insight into its purpose, scope, and the impending reporting requirements scheduled to come into effect in January 2026. Understanding and complying with IRS Form 1099-DA is crucial for all stakeholders. By arming ourselves with the knowledge and strategies shared in this session, we can adeptly navigate the complexities of digital asset reporting, ensuring compliance and mitigating risks within an ever-evolving regulatory landscape.
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CryptoCFOs is the premier community dedicated to professionals in the Web3 finance sector, including accountants, tax professionals, CFOs, CPAs, bookkeepers, auditors, attorneys, enrolled agents, business students, Web3 executives, and investors.
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Nik Fahrer is a Senior Manager at FORVIS with over nine years of experience in public accounting and consulting, primarily focusing on the burgeoning field of digital assets. Currently leading FORVIS' Digital Asset practice, one of the top eight largest CPA firms in the U.S., Nik brings a well-rounded expertise that spans tax, audit, and consulting.
His significant contributions to the industry include being a published author on Bloomberg and an active member of the AICPA Digital Asset Tax Task Force as well as a respected Thought Leader in the CryptoCFOs Community. Nik's insights into the digital asset space are highly sought after, particularly for their practical implications on tax strategies and compliance frameworks. His work helps organizations navigate the complex landscape of cryptocurrencies and blockchain technology, ensuring they remain on the forefront of innovation and regulatory compliance.
Taylor Zork is a CPA with a specialized focus on the crypto industry. Since 2018, Taylor has been a pioneering figure in the crypto accounting space, addressing the unique accounting challenges presented by crypto and DeFi protocols.
His journey has seen him serve as the CFO for multiple crypto startups, including Trustswap. Under his leadership, Trustswap evolved from offering audited smart contracts for token and liquidity locks to becoming a launchpad, an NFT marketplace, and acquiring The Crypto App, a portfolio tracker with millions of downloads.
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Additionally,
Taylor is the CEO and Co-Founder of the CryptoCFOs community which is the premiere education and networking platform for tax and accounting professionals working in or entering the digital assets space/ Join professionals from over 34 countries: https://cryptocfos.com/
He is the author of Accounting for Crypto Assets: Accountants, Tax Professionals and Investors Guide to Blockchain, DeFi, NFTs, & more. Available here: https://a.co/d/5U7pYRz
He is the host of From Niche to Necessity: Tax & Accounting for Web3 and Digital Assets Available here: https://cryptocfos.transistor.fm/
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