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Taxation of Virtual Currency: An Introduction for Practitioners


Cost $15.00
Presentation Length 1.0 hour

Recorded DateDecember 7, 2021
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaTaxes
Course LevelBasic
Course Description

Virtual currency is growing in popularity, and IRS enforcement on reporting of virtual currency is growing as well. Many practitioners are unclear where to even begin on this subject, but it's vital to understand the reporting obligations on tax returns relating to virtual currency. As of the spring of 2021, some 17% of American adults owned virtual currency and that number will only grow in the future.

Webinar Agenda:

  • A brief introduction to virtual currency

  • IRS guidance

  • Infrastructure Bill changes

  • Tax return reporting

  • Other compliance issues

Learning Objectives:

  • Summarize what virtual currency is

  • List and understand the reporting obligations on Form 1040

  • Determine what the voluntary compliance program is and how it relates to virtual currency 

  • Identify the IRS guidance relating to virtual currency

  • Give examples of the changes relating to virtual currency in the Infrastructure Bill

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Jason Dinesen is the President of Dinesen Tax & Accounting, P.C., a public accounting firm in Indianola, Iowa. His practice focuses on accounting and bookkeeping services, tax preparation and business advising to individuals with a business focus ranging from home-based businesses to multistate corporations and not-for-profits. Dinesen has extensive experience working with a third-party administrator of retirement plans and is a prior presenter of multiple 1099 seminars. Dinesen majored in corporate communications with a minor in management from Simpson College.

About Our Presenter

Unlike some other accounting firms, when Dinesen Tax & Accounting, P.C. says we offer personal service, we mean it. When you come to us with your tax preparation needs, you’ll deal directly with our owner and president, Jason Dinesen. We don’t put administrative staff in the middle of you and our tax expert. That means you’ll always have first-hand knowledge of where things stand, and important information won’t slip through the cracks. We welcome all clients, but especially individuals who want the benefits of a long-term relationship with an accounting firm capable of handling anything that might come along with their taxes. We give all our clients the time, attention, and convenience they should expect. If you have a challenging professional or personal schedule, Jason will accommodate you by meeting whenever – and wherever – works best for you.