Squaring the Circle: Are Smart Contracts and DAOs Tax Entities? 1 Credit
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The rise of blockchain technology has introduced innovative concepts such as smart contracts and Decentralized Autonomous Organizations (DAOs). However, as they become more prevalent, a significant question arises: Are smart contracts and DAOs considered tax entities?
This course provides tax and accounting professionals specializing in Web3, DeFi, cryptocurrency, and blockchain technologies with an in-depth exploration of how smart contracts and decentralized autonomous organizations (DAOs) are viewed from a tax perspective. Participants will learn when software arrangements may be considered tax entities or subject to "look-through" treatment. The Course will cover the potential tax consequences of these treatments and delve into arguments contradicting them.
Additionally, the course will explain relevant tax guidelines and best practices for minimizing risks. Topics such as partnership, domestic and foreign corporation treatment, and alternatives to entity classification will be addressed. Participants will also learn about real-world use cases involving DAOs and protocols, understand key concepts like liquidity pools, and explore potential strategies to avoid undesired tax implications. The presenter will discuss thought experiments and practical examples to illustrate the implications and applications of the discussed concepts.Â
Major topics covered-
Join this CE Course, it is designed to provide participants with the necessary knowledge to understand the evolving tax environment around Web3 entities and offer strategies for compliance.
Looking to fulfill your Enrolled Agent (EA) Continuing Education (CE) requirements? MY-CPE online Enrolled Agent CE courses are the best for you. Earn EA CE credits while enhancing your domain knowledge and expertise in diverse tax regulations and practices. Our courses are designed to provide you with the latest updates and deep insights to keep you ahead in your field. With flexible scheduling and a user-friendly platform, MY-CPE offers you a greater convenient and interactive learning experience. Join MY-CPE today and take the next step in advancing your career as an Enrolled Agent.Â
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MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering aintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.
MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
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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.
Our mission is clear: to demystify the complexities of crypto taxation and accounting. We offer expert guidance to simplify crypto tax and accounting, providing members with exclusive access to valuable resources, educational content, networking opportunities, and the latest insights into crypto, NFTs, Web3, and blockchain.
Through NASBA-approved CPE courses, on-demand video tutorials, live expert discussions, and a rich library of resources, we empower our community with the knowledge and tools needed to navigate the dynamic landscape of digital assets confidently.
We are proud to foster an environment that celebrates choice and collaboration. Embracing a diverse ecosystem of partners allows our community members to explore a variety of tools and resources, ensuring they find the best fit for their unique needs.
Our goal is to empower you with options, not limitations, enhancing your journey in the Web3 finance landscape. In this pivotal moment for Web3 finance, the opportunity for tax and accounting professionals is unparalleled.
With a rapidly expanding market, the increasing acceptance and adoption of cryptocurrencies, and the evolving regulatory landscape, the need for specialized knowledge in crypto tax preparation and accounting has never been greater.
At CryptoCFOs, we equip our members to capitalize on these trends, offering a platform that encourages learning, exploration, as well as the support and perspective of professionals on a global level.
Jason Schwartz (aka CryptoTaxGuy.eth on X) is a renowned tax partner and co-head of the Digital Assets and Blockchain Practice at Fried, Frank, Harris, Shriver & Jacobson LLP. He specializes in tax issues related to financial products, securitizations, funds, treaties, lending, and digital assets. With deep expertise in these fields, Jason provides invaluable guidance to clients navigating the complex and evolving tax landscape of digital assets.
Jason has consistently earned recognition for his contributions to the tax profession. Chambers USA has acknowledged him as an "Up and Coming" lawyer in Tax, while Legal 500 US has named him a "Next Generation Partner" in Tax: Financial Products annually from 2017 to 2022.
In addition to his practice, Jason is an accomplished author, having written numerous articles and a Bloomberg BNA Tax Management Portfolio on the taxation of collateralized loan obligations (CLOs). He is also a sought-after speaker at prominent events such as the New York State Bar Association (NYSBA) and the American Bar Association (ABA) conferences and Korea Blockchain Week, where he shares insights on tax and digital assets.
Jason is deeply committed to pro bono work and community service. He oversees Fried Frank's 501Foundry program, helping non-profit organizations incorporate and obtain tax-exempt status.
Before joining Fried Frank, Jason was a partner at a large international law firm. He holds an LLM from New York University School of Law, a JD magna cum laude from American University Washington College of Law, and a BA cum laude from New York University. He is admitted to practice law in New York and the District of Columbia.
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Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.
To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.
After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.
We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.
JS
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The course met my expectations and was informative about a new topic.
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