At the end of 2017, the cryptocurrency exchange Coinbase had more users than stock brokerage Charles Schwab. Major companies like Expedia, Microsoft, and PayPal now accept forms of cryptocurrency as payment, while thousands of smaller organizations are investing in it. This surge in cryptocurrency use has left the accounting profession with major questions: How are governments looking to tax such transactions? What are possible financial statement implications? How does cryptocurrency affect tax-exempt organizations? How should firms treat clients who trade in cryptocurrency now?
Bring your tax-related cryptocurrency questions to hear the latest.
After this session, you will be able to:
• Recall what governments and standard setters are doing around cryptocurrency • Identify new and pending rules that could impact your practice.