Virtual currencies and IRS Revenue Ruling 2019-24 {PFP Section}

Guest: Ryan Firth, CPA & Shehan Chandrasekera, CPA

Virtual currency experts Ryan Firth, CPA and Shehan Chandrasekera, CPA will discuss what you need to know about the recent IRS revenue ruling on virtual currencies to help you advise your clients:

• What is virtual currency and cryptocurrency?
• What are hard forks and airdrops?
• What are the key takeaways from the IRS Q&A?
• What are the practical challenges you need to be aware of?
• How can you help your clients who transact in cryptocurrency?

Access the related resources from this podcast:

• IRS Rev. Rul. 2019-24
• Article: “IRS Revenue Ruling 2019-24: Hard Forks, Airdrops and Other Topics Related to the Taxation of Virtual Currency” by Ryan Firth
• How the IRS is Approaching Cryptocurrency Compliance: Updates from the IRS Chief Counsel
• New IRS Cryptocurrency Tax Guidance
• IRS and FinCEN clarify cryptocurrency reporting rules: Like-Kind Exchanges, Specific ID, FBAR, and Airdrops
• Podcast: Planning & tax considerations when transacting in virtual currency
• Webcast: IRS Guidance on Taxation of Virtual Currency
• Demonstrate your competency in personal financial planning with the CPA/PFS credential or the PFP certificate program

The episode is brought to you by the AICPA’s Personal Financial Planning Section, the premier provider of information, tools, advocacy and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice and by the CPA/PFS Credential program which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us online at www.aicpa.org/pfp to join our community and gain access to valuable member-only benefits.

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