Taxation of Digital Asset Transactions: Impact of New Infrastructure Bill, Cash Transactions, Reporting, Tax Planning
Recording of a 90-minute premium CLE/CPE video webinar with Q&A
This CLE/CPE webinar will provide tax counsel and advisers with a detailed analysis of the taxation of digital asset transactions under current tax law and new rules under the recently enacted Infrastructure Investment and Jobs Act. The panel will discuss the impact of the new Act, applicable IRS tax rules and recent regulations, sourcing of income rules and challenges, issues presented by applicable international tax rules under the Internal Revenue Code, and other vital items impacting taxpayers engaging in digital asset transactions.
Outline
- Impact of the Infrastructure Investment and Jobs Act on digital asset transactions
- Recent IRS regulations and applicable tax rules
- Sourcing of income rules and challenges
- Tax implications of BEAT, GILTI, and FDII rules concerning digital asset transactions
- Best practices for tax counsel and advisers to ensure tax compliance
Benefits
The panel will discuss these and other key issues:
- Impact of the Infrastructure Investment and Jobs Act on digital asset transactions
- Recent IRS regulations covering the tax treatment of digital asset transactions and cryptocurrency
- Sourcing rules and pitfalls to avoid unnecessary tax liability
- Additional federal income tax implications; BEAT, treatment of CFCs, FDII
Faculty
Jordan Bass, Esq., CPA
Founder
Taxing Cryptocurrency
Mr. Bass is a both a Certified Public Accountant (CPA) and a tax lawyer, and is the founder of Taxing Cryptocurrency.... | Read More
Mr. Bass is a both a Certified Public Accountant (CPA) and a tax lawyer, and is the founder of Taxing Cryptocurrency. He has an extensive background in financial accounting and taxation and is one of the leading crypto tax and accounting authorities for entrepreneurs and investors in the cryptocurrency and blockchain ecosystem. Mr. Bass leverages his in-depth knowledge of the crypto market with his tax expertise to help clients understand cryptocurrency tax and accounting implications while aiming to take the uncertainty out of planning and filing crypto taxes.
In addition to his work at Taxing Cryptocurrency, Mr. Bass is also the Accounting Manager for Horizen (formerly ZenCash), a privacy-oriented cryptocurrency that aims to enable an application-rich and inclusive ecosystem that provides people with complete control of their digital footprint.
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Jonathan Kalinski
Principal
Hochman Salkin Toscher Perez
Mr. Kalinski specializes in both civil and criminal tax controversies as well as sensitive tax matters including... | Read More
Mr. Kalinski specializes in both civil and criminal tax controversies as well as sensitive tax matters including disclosures of previously undeclared interests in foreign financial accounts and assets and provides tax advice to taxpayers and their advisors throughout the world. He handles both federal and state tax matters involving individuals, corporations, partnerships, limited liability companies, and trusts and estates. Mr. Kalinski has considerable experience handling complex civil tax examinations, administrative appeals, and tax collection matters. Prior to joining the firm, he served as a trial attorney with the IRS Office of Chief Counsel litigating Tax Court cases and advising revenue agents and revenue officers on a variety of complex tax matters.
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Pallav Raghuvanshi
Shareholder
Greenberg Traurig
Mr. Raghuvanshi focuses his practice on U.S. and international tax matters in the context of corporate restructurings... | Read More
Mr. Raghuvanshi focuses his practice on U.S. and international tax matters in the context of corporate restructurings and cross-border mergers and acquisitions. He is experienced handling spin-off transactions for large multinational companies, various inbound and outbound transactions involving issues related to foreign tax credits, tax treaties, controlled foreign corporations, and other international reorganization issues. Mr. Raghuvanshi also handles U.S. federal tax aspects of initial coin offering / first token sales and other tax-related issues on blockchain technology and cryptocurrencies.
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