Celesq® Programs

Cryptocurrency: Current Tax and Bank Secrecy Act Regulatory and Enforcement Environment

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Virtual currencies, including cryptocurrency, have recently received significant attention from the IRS, the Financial Crimes Enforcement Network, the U.S. Department of Justice Tax Division, and other law enforcement agencies. The panelists, led by the former chief of the IRS Criminal Investigation Division, will explore recent guidance from FinCEN and/or the IRS with respect to: (1) the collection, retention, and disclosure to the U.S. government of certain transactions involving cryptocurrency; (2) the taxation of, and tax reporting standards for, cryptocurrency; and (3) Bank Secrecy Act reporting, such as the Foreign Bank Account Report. The panelists will also discuss strategies to mitigate the risk of civil and criminal penalties for noncompliance with the internal revenue laws, including the availability of the qualified amended return and the IRSs voluntary disclosure practice. This webinar is a must-attend for all professionals and practitioners who operate in the space of, or advise on, cryptocurrency. Objectives: After this presentation, attendees should understand: 1. Proposed regulations adopting recordkeeping, verification and reporting requirements for certain deposits, withdrawals, exchanges, payments, or transfers of cryptocurrency by, through, or to a bank or money service business; 2. Proposed regulations requiring banks and nonbank financial institutions to collect, retain, and transmit to the U.S. government certain information related to fund transfers and transmittals of funds over $250; 3. The taxation of, and tax reporting standards for, cryptocurrency, including proposed rules requiring cryptocurrency to be reported on FinCEN Form 114, Report of Foreign Bank and Financial Accounts; and 4. The current civil and criminal regulatory environment, including the use of the qualified amended return and the voluntary disclosure as a means to limit civil and criminal penalties.

Available in States

  • California
  • Florida
  • Georgia
  • New Jersey
  • New York
  • Texas Self Study

Program Categories

  • Banking & Finance Law
  • Bankruptcy Law & Creditor Rights
  • Contracts
  • Criminal Law & Procedure
  • Criminal Law & White Collar
  • Criminal Practice & Procedure
  • Cryptocurrency
  • Federal Courts
  • Financial Regulatory
  • Financial Services
  • Florida Eligible