HFTP North Texas Chapter Meeting

Tuesday - November 16, 2021
All Members and Prospective Members are cordially invited to join our "VIRTUAL" meeting!

Meeting Details

Presentation

This program presents an overview of blockchain and the tax implication of cryptocurrency transactions. The IRS has provided some recent guidance, but potentially conflicting pronouncements by other regulatory agencies have created uncertainty on reporting issues. This course will help the practitioner understand when a taxable transaction has occurred, what reports to file to satisfy IRS requirements, and identify tax traps for the unwary. Program content includes:
• Blockchain basics
• Classification of cryptocurrency
• IRS Notice 2014-12
• Tax implications of airdrops, mining, hard forks, margin trading, purchasing of goods or services with cryptocurrency.
• Gift tax rules for donating, gifting, or bequeathing cryptocurrency
• Traps for the unwary

Allison M. (Yee) McLeod, LL.M., JD, CPA is a senior lecturer at the University of North Texas (UNT). McLeod has taught university graduate-level courses on ethics, multi-jurisdictional taxation, tax research and corporate income tax. She also lectures in financial accounting and individual taxation on an undergraduate level. Prior to joining the UNT faculty in 2010, she was director of tax planning and IRS audits for Lehigh Hanson North America, where her practice included both federal and international tax planning. She also spent 13 years specializing in tax planning with the JCPenney Corporation Inc.

Who Should Attend?

This course is suitable for Corporate tax and Finance Executives, Directors, Managers and Staff, CPAs, Enrolled Agents, Accountants, Attorneys, IT Professionals, and Business/Financial advisors who work with and advise individuals or businesses that may use or invest in cryptocurrency. All in-house and public practice professionals will benefit from this timely and insightful seminar.

Cost

There is NO CHARGE for this event!

Please RSVP through Evite or directly to Angie Abston no later than the Monday, November 15, 2021.

Learning Objectives

1. Discuss what constitutes blockchain and the various types of cryptocurrency it supports.
2. Determine whether a cryptocurrency transaction creates a taxable event.
3. Be able to identify the IRS forms needed to report cryptocurrency transactions.
4. Develop a working knowledge of possible reports due to other regulatory agencies.
5. Discuss the traps that cryptocurrency traders can encounter which could unexpectedly increase the trader’s tax liability.
6. Become knowledgeable of current enforcement actions employed by the IRS.

 

CPE Information

Program Level: Basic
Pre-requisite Required: None
Advance Preparation Required: None
Delivery Method: Group Live Delivered Online Due To COVID-19
Recommended CPE Credit: 1.0
Recommended Field of Study: Taxation

For more information regarding administrative policies such as complaint and refund, please contact our offices at northtexashftp@Hotmail.com.

The North Texas Chapter of Hospitality Financial and Technology Professionals 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 website: www.NASBARegistry.org.