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Virtual Currency – Introduction and Aspects of Taxation

  • Accountant
  • AFSP
  • CRTP
  • CPA (US)
  • EA
  • ORTP
  • Maryland Tax Preparer
  • CFIRS
  • CWS
  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Course Description

What is used for buying, selling, and investing and is untraceable, anonymous, and technologically confusing?

The answer uses different terms but means the same thing: cryptocurrency, virtual currency, digital currency, and crypto coin. All describe a relatively new medium of economic exchange used for buying, selling, exchanging, and investing.

Blockchain technology and cryptocurrencies such as Bitcoin and ether are two trending topics in the Fintech world. Yet, few business professionals can grasp the intricacies, opportunities, and challenges posed by this new technology. Millions of crypto traders are searching daily for tax professionals with expert knowledge of crypto taxation.

This online CPE webinar will explain virtual currency fundamental terms and share how the IRS defines virtual currency for tax purposes.

Are you interested in how cryptocurrencies were developed and how they work?

Does blockchain technology provide sufficient security for virtual currency?

What are the advantages and disadvantages of using virtual currency?

What are the tax consequences of investing in virtual currency?

In this CE/CPE Tax webinar, tax practitioners due diligence responsibilities for preparing client returns affected by virtual currency transactions and the tax consequences of certain virtual currency activities will also be reviewed.

Learning Objectives

  • To define a virtual currency.
  • To describe the first virtual currency and when it was created and released.
  • To recognize the tax implications of using or investing in virtual currency.
  • To identify how the IRS defines virtual currency.
  • To identify the advantages and disadvantages of using cryptocurrency.
  • To recognize case studies and how they could apply to your clients.
  • To differentiate correct statements concerning virtual currencies and taxes.

Recommended For

  • This IRS-approved CE/CPE course is recommended for CPA, EA, AFSP, CRTP, MRTP, ORTP, CFIRS, CWS, and Tax Professionals interested in understanding how the IRS defines virtual currency for tax purposes.

Who Should Attend?

  • Annual Filing Season Program
  • Bookkeepers & Accountants & Tax Preparers
  • California Registered Tax Professional
  • Certified Public Accountant (CPA)
  • CPA - Large Firm
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Maryland Tax Preparers
  • Oregon Tax Preparers
  • Tax Professionals
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 1 General Credit for Accountant/Bookkeeper/Tax Professionals
  • 1 CE Credit of Federal tax-related matters for Annual Filing Season Program (AFSP)
  • 1 CE Credit of Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0957)
  • 1 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 1 CE Credit of Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-01159-22-O)
  • 1 CE Credit of Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-01159-22-O)
  • 1 CE Credit of Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-01159-22-O)
  • 1 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 1 CE Credit for Certified Wealth Strategist (CWS)

Additional details

  • Course Level :
    Basic
  • Credits :
    1
  • Instructional Method :
    Group Internet Based
  • Pre-requisites :
    None
  • Advance Preparation :
    None

IRS APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

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 maintenance 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.

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

CTEC APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor ID# : 6273) has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.

Presenter

About Presenter

Mike Mudroncik

Senior Stakeholder Liaison, Internal Revenue Service

Mike has been with the IRS since 2002 working in the Stakeholder Liaison position since 2009 and, prior to that, as a Revenue Agent, SB/SE Exam Division, in Downers Grove, IL.  


Mike holds degrees in Business Administration and Accounting from Indiana University, an MBA from DePaul University and is working on completing a Master of Science in Taxation degree, also from DePaul University. 

About Company

Internal Revenue Service

www.irs.gov/

The Internal Revenue Service's official LinkedIn account features IRS updates to help America's taxpayers understand and meet their tax responsibilities and enforce the law with integrity and fairness to all. See also our job opportunities and follow www.twitter.com/RecruitmentIRS.

The U.S. government does not promote or endorse any non-government or commercial content appearing on this page. This service is operated by a third party and not an official government website. The IRS strongly discourages you from providing personally identifiable information. Read our privacy policy at go.usa.gov/VgO

Faq

FAQs content

  • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
  • Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
  • You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
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  • This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
  • If you still face the polling problem please don’t panic and provide your response in the chat and we shall consider the same for processing for credits. You can download Zoom by clicking on the mentioned link : https://zoom.us/download
  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.

Ratings and Review

4.5

263 Ratings

Excellent

149

Very Good

93

Average

17

Poor

2

Terrible

2

MM

Mary Moffitt, EA

Jun 30th, 2022

Mike did a great job. I'm a retired IRS Revenue Agent and worked an e-currency case which was prosecuted by DOJ years ago. Its the same basic scheme with different names to the process. Well paced and easy to follow presentation.

CP

Christine Payne, EA

Jun 29th, 2022

Virtual Currency is the hot topic in taxes right now. I learned a lot in this one-hour webinar which I can use in my job preparing taxes. The instructor presenting this webinar was great!!

JS

Jennifer Steffy, EA

Jun 29th, 2022

Excellent webinar! The presenter's approach to the topic was spot-on. Some technical difficulties, but these were handled very professionally.

JS

James Sinman, CPA (US), CPA/PFS

Jun 28th, 2022

When I enrolled, the web site showed this as a 2 hour presentation. When I got the confirmation, it said it was a 1 hour program.

JK

Jeff Krause, CPA (US)

Jun 28th, 2022

Refreshingly straightforward and coherent introduction to an emerging area of the tax law.

Virtual Currency – Introduction and Aspects of Taxation

FREE

1 Credit

Subject Area

Taxes