Date: Thursday, October 27th 6:30 – 8:30 PM EST
Speaker: Clayton Barnett & Shaun Gennett, IRS Supervisory Agents, Field Examination
Price: $45
CE: 2

Part 1: This presentation will discuss the basic implications of digital assets when filing tax returns. An overview of what digital assets are, how they are used in the marketplace, and IRS guidance will assist return preparers during tax filing season. The tax treatment of transactions involving digital assets along with which IRS forms to use when reporting digital asset transactions will be presented and recommendations for recordkeeping will be provided. A few example scenarios will be provided along with a Q&A opportunity for participants.

Part 2: This presentation will discuss Schedule C, Schedule E, Form 1065, and Form 1120 that pertain to field examination touching on what Revenue Agents look for and expect prior to the initial interview, during the interview and as the audit progresses. We will also discuss depreciation. The presenter will provide the tax professionals with insights on how to minimize the possibility of an audit and ways they can assist clients to ensure proper reporting occurs. There will also be a Q&A session at the end of the presentation.

This is a hybrid event with some participants live in Clearwater, FL, others online via Zoom.