IRS Voluntary Disclosure Program Update for Owners of Digital Assets
Please join us virtually on Thursday, March 2, 2023 at 8:30 am
for the next San Francisco ITAX meeting
Emphasis of Presentation: Digital asset ownership has exploded domestically and around the globe. While many of our digital asset clients consider themselves technologically savvy, they are still doomed by a lack of sophistication regarding the U.S. tax law. As such, many U.S. residents who own digital assets through international exchanges continue to trigger taxable events and fail to report their gains/losses on their U.S. tax returns. Now that certain exchanges like FTX and Binance are beginning to fall, taxpayers have more questions than answers, and need help from qualified tax professionals to understand their options and get back into compliance. This presentation will discuss recent developments in the IRS's Voluntary Disclosure Program for cryptocurrency and digital assets owners, FBAR filing requirements, how the Inflation Reduction Act will improve enforcement of digital asset cases, and what tax practitioners should know for the future.
Presenters:
Jay Weill
Partner, Sideman & Bancroft
Steven Katz
Partner, Sideman & Bancroft
Travis Thompson
Associate, Sideman & Bancroft
Intended Audience
CPAs, Attorneys, Bankers, Enrolled Agents, Financial Planners, Insurance Agents, Real Estate Agents, and Professional Staff.
Miscellaneous Information
There is NO CPE for this program.