As virtual currency transactions rise, so does the enforcement of virtual reporting requirements. When reporting cryptocurrency on your tax return, a good rule of thumb is that you must report it on your tax return if a taxable event occurs.
Over the past few years, digital currency has earned the reputation for being the easiest and most efficient way to move money across international borders. Experts say the ability to accelerate the flow of money at a reduced cost, along with the fear of surveillance and the impact of war on the local currency are the primary reasons why Ukrainian government officials recently began requesting donations in cryptocurrency.
Register today! Join Peter Goodrich and Brian Goldblatt of Prager Metis and Herbert P. Moore, Jr., David J. Sorin, and Matthew E. Uretsky of McCarter & English on Thursday, October 29th at 2 pm ET/ 11 am PT. They will discuss
Cryptocurrency is the future.” In the article by The Chain Bullet, Peter Goodrich, Tax Manager, discusses how the future of cryptocurrency is much closer than we think thanks to some big events
Iconic American humorist Will Rogers once said, “The only difference between death and taxes is that death doesn’t get any worse every time Congress meets.”
Over the past few years, cryptocurrency and its underlying technology, blockchain, have started to evolve from being misunderstood concepts into a mainstream means to conduct digital transactions. Cryptocurrency is a digital form of currency used as a medium of exchange for conducting internet-based sales and financial transactions. Unlike paper bills or coins, cryptocurrency lacks physical properties and is stored in virtual wallets rather than bank accounts.
Accounting Professionals Need to Understand Cryptocurrency and Blockchaindev_admin2020-01-14T13:30:28-05:00
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