IRS guidance is lacking regarding the taxation of virtual currencies and does not accurately describe transactions that occur. This session will cover the current guidance on taxation of virtual currency and the IRS' increased attention to this area. This session will also cover why virtual currency will become more common in the future and why it will matter to practitioners going forward. The panel will also cover FinCEN's enforcement and regulatory efforts regarding virtual currencies.
Understand the current IRS guidance and increased focus on virtual currencies.
Understand FinCEN's current regulatory and enforcement approaches to virtual currency.