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Live Webcast Replay

Tax Implications of Cryptocurrency


Total Credits: 2 including 2 Taxes - Technical

Average Rating:
Not yet rated
Categories:
ACPEN Industry Institute |  IRS Approved |  Tax
Faculty:
Allison M. McLeod, LL.M., CPA
Course Levels:
Basic
Duration:
2 Hours
License:
Product Setting: Expires 30 day(s) after program date.

Dates
Please Note: Programs with a ☾ insignia begin after 5pm or air on the weekend.


Description

This course presents an overview of blockchain and the tax implication of cryptocurrency transactions.  The IRS has provided some recent guidance, but potentially conflicting pronouncements by other regulatory agencies have created uncertainty on reporting issues. This course will help the practitioner understand when a taxable transaction has occurred, what reports to file to satisfy IRS requirements, and identify tax traps for the unwary.

**Please Note:  If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to kori.herrera@acpen.com.

Basic Course Information

Learning Objectives
  • Discuss what constitutes blockchain and the various types of cryptocurrency it supports
  • Determine whether a cryptocurrency transaction creates a taxable event
  • Be able to identify the IRS forms needed to report cryptocurrency transaction
  • Develop a working knowledge of possible reports due to other regulatory agencies
  • Discuss the traps that cryptocurrency traders can encounter which could unexpectedly increase the trader’s tax liability
  • Become knowledgeable of current enforcement actions employed by the IRS

Major Subjects
  • Blockchain basics
  • Classification of cryptocurrency
  • IRS Notice 2014-12
  • Tax implications of airdrops, mining, hard forks, margin trading, purchasing of goods or services with cryptocurrency
  • Gift tax rules for donating, gifting or bequeathing cryptocurrency
  • Traps for the unwary

Course Materials

Faculty

Allison M. McLeod, LL.M., CPA's Profile

Allison M. McLeod, LL.M., CPA Related Seminars and Products


Allison M. (Yee) McLeod, LL.M., JD, CPA, is currently a Senior Lecturer at the University of North Texas in Denton, Texas.   She received Bachelor of Business Administration and Juris Doctor degrees from Baylor University, and a Master of Legal Letters (LL.M.) degree specializing in Taxation from the Southern Methodist University School of Law. Professor McLeod has also studied British and Art History at the University of Sussex, England. 

Prior to joining the UNT faculty in 2010, Professor McLeod held the position of Director of Tax Planning and IRS Audits for Lehigh Hanson North America, a major manufacturer of cement, aggregates and other building materials. Her practice included both federal and international tax planning. Professor McLeod also spent thirteen years specializing in Tax Planning with the JCPenney Corporation, Inc., and two years with Deloitte & Touche in Dallas.

Professor McLeod has taught at the university level graduate classes on Ethics, Tax Research, Multi-jurisdictional Taxation and Corporate Income Tax.   She also lectures in Financial Accounting and Individual Taxation on an undergraduate level.  She has taught at the UNT College of Law as adjunct faculty and works part-time at the law firm of Grable Martin Fulton, PLLC.   Since 2011, Professor McLeod has been honored to present live and on-line ethics CPE classes to CPAs across the nation.  She also serves as an expert witness in accounting malpractice cases and maintains a small private practice serving individuals and small businesses.  Professor McLeod has also taught at the University of North Texas College of Law as adjunct faculty.  She is currently serving on the Professional Ethics Committee of the Texas Society of CPAs.

Professor McLeod is licensed to practice law by the State Bar of Texas since 1992 and has been a Certified Public Accountant since 1993.  


Dates

Wed, Jun 26, 2024 - 07:00am to 09:00am MDT
Wed, Jul 10, 2024 - 09:00am to 11:00am MDT
Sat, Jul 20, 2024 - 10:00am to 12:00pm MDT
Mon, Aug 05, 2024 - 12:00pm to 02:00pm MDT
Mon, Aug 26, 2024 - 01:00pm to 03:00pm MDT
Tue, Sep 10, 2024 - 02:00pm to 04:00pm MDT
Mon, Sep 23, 2024 - 07:00am to 09:00am MDT
Mon, Oct 07, 2024 - 09:00am to 11:00am MDT
Wed, Oct 23, 2024 - 10:00am to 12:00pm MDT
Wed, Nov 06, 2024 - 12:00pm to 02:00pm MST
Mon, Nov 18, 2024 - 01:00pm to 03:00pm MST
Fri, Dec 06, 2024 - 02:00pm to 04:00pm MST
Sat, Dec 14, 2024 - 07:00am to 09:00am MST
Thu, Dec 26, 2024 - 05:00pm to 07:00pm MST
Mon, Jan 06, 2025 - 10:00am to 12:00pm MST
Tue, Jan 21, 2025 - 12:00pm to 02:00pm MST
Wed, Feb 05, 2025 - 01:00pm to 03:00pm MST
Thu, Feb 20, 2025 - 05:00pm to 07:00pm MST
Wed, Mar 12, 2025 - 07:00am to 09:00am MDT
Tue, Mar 25, 2025 - 09:00am to 11:00am MDT
Tue, Apr 08, 2025 - 10:00am to 12:00pm MDT
Mon, Apr 28, 2025 - 12:00pm to 02:00pm MDT
Tue, May 06, 2025 - 01:00pm to 03:00pm MDT
Fri, May 23, 2025 - 02:00pm to 04:00pm MDT

Additional Info

Basic Course Information

Prerequisites None
Advanced Preparation None
Designed For This course is suitable for Corporate tax and finance executives, directors, managers and staff, CPAs,  Enrolled Agents, accountants, attorneys and business/financial advisors who work with and advise individuals or businesses that use or invest in cryptocurrency.  All in-house and public practice professionals involved with tax compliance and planning will benefit from this timely and insightful seminar. 
Original Recording Date 05/2024
Course Developer Allison McLeod
Date Added to Catalog 03/22/04
Yellow Book No

Additional Information

Complaint Resolution Policy

Please contact Anne Taylor for any complaints. anne.taylor@acpen.com, (972-377-8199). 


Official Registry Statement

Business Professionals' Network, Inc. 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


Instructional Delivery Method

Group Internet Based


Course Registration Requirements

Online Registration


Refund/Cancellation Policy

Please contact the ACPEN help desk 1-877-602-9877 or help@acpen.com if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer. 


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