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Live Webinar

60-minute live streaming program
  • October 19
  • 1:00 - 2:00 pm EST

Taxes and Cryptocurrency

October 19

Gain an understanding of how to engage in cryptocurrency and maintain state and federal compliance.

Cryptocurrencies are quickly becoming a core part of the financial mainstream, with institutional and retail investors building them into their portfolios. It is important to understand the structure and complexities of cryptocurrency, as well as the taxation and escheat implications associated. This topic will explain the intricacies of cryptocurrencies so you will be able to recognize both how cryptocurrencies work and the variety of crypto products. The material will also analyze the federal and state legislation and regulation requirements required for maintaining federal tax and escheat compliance.

Learning Objectives

  • You will be able to define cryptocurrency.
  • You will be able to describe smart contracts.
  • You will be able to discuss tax implications.
  • You will be able to identify unclaimed property requirements.

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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Background on Digital Assets
  • DLT and Blockchain
  • What Is Cryptocurrency?
Using Cryptocurrency
  • How Is Cryptocurrency Created?
  • How Is Cryptocurrency Stored?
  • What Are Smart Contracts?
Types of Cryptocurrency
  • Decentralized Apps and Decentralized Finance
  • What Are NFTs?
Federal Tax Implications of Cryptocurrency
  • How the IRS Views Digital Assets
  • The Basic Income Tax Treatment of Key Transactions; Sales, Exchanges, Air Drops, Forks, NFTs, Mining Activities
  • Tax Reporting and Compliance
Unclaimed Property Implications
  • Unclaimed Property Application to Cryptocurrencies
  • Compliance Tracking and Limitations
  • Liquidation Implications of Cryptocurrency
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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

Live Webinar Registration

  • AIPB 1.0
     
  • This program is acceptable for 1.0 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
     
  • AL CLE 1.0
     
  • This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.0 hours credit.
     
  • AR CLE 1.0
     
  • This course has been approved for 1.0 hours of CLE by the Arkansas CLE Board.
     
  • Arizona CLE 1.0
     
  • The State Bar of Arizona does not approve or accredit CLE activities for the Mandatory Continuing Legal Education requirement. This activity may qualify for up to 1.0 hours toward your annual CLE requirement for the State Bar of Arizona.
     
  • CA MCLE 1.0
     
  • Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.0 CLE hours of participatory credit.
     
  • CT CLE 1.0
     
  • Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.0 CLE credit(s).
     
  • HI CLE 1.0
     
  • This program was approved by the Hawaii State Board of Continuing Legal Education for 1.0 CLE credit hours.
     
  • IL CLE 1.0
     
  • This course was approved for a total of 1.0 hours of MCLE Credit by the Illinois MCLE Board.
     
  • NH MCLE 1.0
     
  • NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 60 Minutes.
     
  • NJ CLE 1.2
     
  • This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.2 hours of total CLE credit.
     
  • PA CLE 1.0
     
  • This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.0 hours of substantive law, practice and procedure CLE credit.
     
  • RI CLE 1.0
     
  • This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.0 hours of CLE credit.
     
  • VT CLE 1.0
     
  • This program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.0 hours of CLE credit.
     
  • WI CLE 1.0
     
  • This program has been approved by the Board of Bar Examiners for 1.0 hours for use toward the Wisconsin Mandatory CLE requirement.
     
  • WV MCLE 1.2
     
  • This program has been approved by the West Virginia State Bar MCLE Commission for 1.2 MCLE hours.
     
  • CPE 1.2 including Taxes 1.2
     
  • Lorman Education Services 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 web site: www.nasbaregistry.org. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.2 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Taxes for 1.2 hours. Prerequisite: basic knowledge of taxation. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     

Who should attend?

This live webinar is designed for accountants, CPAs, presidents, vice presidents, CFOs, accounting managers, tax managers, controllers, attorneys, and bookkeepers.

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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Lori Hellkamp

Lori Hellkamp

Jones Day

  • Partner in Jones Day’s Washington D.C. office
  • Practice spans a broad range of areas, including corporate and international tax, M&A and tax controversy and has a particular emphasis on international tax planning, counseling, compliance and tax-efficient structuring for cross-border transactions and investments, including those involving digital assets
  • Has extensive experience helping clients address issues arising from foreign (inbound) investments into the United States, including in the real estate, FinTech and renewable energy sectors
  • Can be contacted at 202-879-3787 or [email protected]
Mark Rasmussen

Mark Rasmussen

Jones Day

  • Partner in Jones Day’s Dallas office
  • Since 2016, he has advised clients on cryptocurrencies, blockchain technology, and fintech matters, including initial coin offerings (ICOs) and token issuances, money transmitter and virtual currency regulations, and litigation
  • In 2018, he was appointed by Chief Judge Barbara Lynn, of the Northern District of Texas, to be the first-ever receiver in a Securities and Exchange Commission (SEC) enforcement action involving an ICO promoter
  • Co-editor and co-author of the book Blockchain for Business Lawyers and is a frequent speaker on legal issues related to blockchain technology
  • Also has substantial experience with internal investigations and regulatory investigations involving the SEC, Commodity Futures Trading Commission (CFTC), Department of Justice (DOJ), and state securities regulators (including the Texas State Securities Board)
  • Can be contacted at 214-969-4892 or [email protected]
Jennifer Waryjas

Jennifer Waryjas

Jones Day

  • Counsel in Jones Day’s Chicago office
  • Extensive experience in the areas of unclaimed property and state and local tax, including multistate tax analysis, audits, and litigation
  • Provides a multifaceted approach to complex sales and income tax issues
  • Has substantial knowledge in all aspects of voluntary disclosures and audit, having been previously employed in tax consulting, where she formulated calculations and oversaw remediations, and understands the numbers behind the legal issues at stake
  • Representations include clients in oil and gas, manufacturing, telecom, card companies, hospitality, hospice care, and securities
  • Highlights of her experience include negotiating "no-change" unclaimed property audits with the States of Arkansas, Delaware, Florida, and Massachusetts; a zero-assessment audit with the Illinois Department of Revenue; and a dismissal of a multimillion dollar qui tam litigation
  • Frequent speaker on unclaimed property and is the 2020-2021 Unclaimed Property Professionals Organization (UPPO) secretary
  • Can be contacted at 312-269-4057 or [email protected]
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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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  • State Specific Credit Tracker
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Questions? Call 877-296-2169 to speak with a real person.

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Product ID: 409153
Published 2021
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