Tax Treatment of Crypto Staking Rewards: Revenue Ruling 2023-14, Tax Filing Requirements, Managing IRS Examinations
Recording of a 90-minute premium CLE/CPE video webinar with Q&A
This CLE/CPE webinar will provide tax counsel, accountants, and other advisers an in-depth analysis of the tax treatment of cryptocurrency staking rewards and reporting obligations for taxpayers and investors. The panel will discuss the recently issued Revenue Ruling 2023-14 and analyzing IRS monitoring to increase compliance, as well as define proper reporting and tax treatment for crypto staking rewards.
Outline
- Overview of cryptocurrency staking
- Applicable tax rules
- Characterization of crypto staking transactions
- Reporting and compliance
- State and local tax considerations
Benefits
The panel will review these and other key issues:
- Application of U.S. tax rules to cryptocurrency and other digital asset transactions
- How are U.S. tax rules applied to crypto staking rewards?
- What are the reporting requirements and compliance pitfalls to avoid?
- What are the state and local tax challenges of crypto transactions?
Faculty
Evan J. Davis
Principal
Hochman Salkin Toscher Perez
Mr. Davis joined the firm in 2016 after more than 20 years in the public sector as a trial lawyer with extensive... | Read More
Mr. Davis joined the firm in 2016 after more than 20 years in the public sector as a trial lawyer with extensive civil and criminal trial and appellate experience in both federal and state courts. He and his cases have been profiled by the New York Times, Wall Street Journal, Los Angeles Times, People Magazine, as well as national legal publications such as Tax Notes and Law360. Mr. Davis represents individuals and closely held entities in criminal tax investigations and prosecutions, civil tax controversy and litigation, sensitive-issue or complex civil tax examinations and administrative tax appeals, and federal and state white-collar criminal investigations. He represents numerous cryptocurrency clients worldwide on civil and criminal tax matters, speaks frequently on cryptocurrency, criminal tax, and Bank Secrecy Act issues, deals with civil and criminal cannabis-related tax issues, and handles civil and criminal unreported foreign account and foreign-entities investigations and disclosures. In the appellate arena, Mr. Davis has argued cases before the Ninth Circuit Court of Appeals as both a prosecutor and defense counsel and was trial and appellate counsel on the attorney-client privilege case In re Grand Jury, which the U.S. Supreme Court heard in 2023. Mr. Davis frequently lectures on many topics throughout the country both in the private sector and as a federal prosecutor.
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Michel R. Stein
Principal
Hochman Salkin Toscher Perez
Mr. Stein specializes in tax controversies, as well as tax planning for individuals, businesses and corporations. For... | Read More
Mr. Stein specializes in tax controversies, as well as tax planning for individuals, businesses and corporations. For more than 25 years, he has represented individuals with sensitive issue civil tax examinations where substantial penalty issues may arise, and extensively advised individuals on foreign and domestic voluntary disclosures regarding foreign account and asset compliance matters. Mr. Stein is well respected for his expertise and judgment in handling matters arising from the U.S. government’s ongoing enforcement efforts regarding undeclared interests in foreign financial accounts and assets, including various methods of participating in a timely voluntary disclosure to minimize potential exposure to civil tax penalties and avoiding a criminal tax prosecution referral. Mr. Stein is a frequent lecturer at national and regional conferences on topics including tax compliance sensitive issues, IRS examinations, State and Federal worker classification issues, etc.
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