FICPA Podcasts

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The FICPA podcast is to inform and educate our members & the CPA community with today’s hottest issues. Our mission is to serve our members, enhance their competency & professionalism, support professional standards, promote the value of our members & advocate on behalf of the CPA Profession.

Episodes

Saturday Oct 12, 2019

Federal Tax Update: Virtual Currency and Taxes

Saturday Oct 12, 2019

https://vimeo.com/365964311

https://www.currentfederaltaxdevelopments.com/podcasts/2019/10/12/2019-10-14-virtual-currency-and-taxes

This week we look at:

IRS expands IP PIN program to 10 more states
Question on virtual currency transactions will be on Schedule 1, Form 1040 and 1040SR, along with release of more draft instructions
Hard forks of virtual currencies are taxable events per IRS and the rule appears to apply retroactively
Additional set of FAQs added for taxation of virtual currencies to IRS website