Monday, August 29, 2022

As if the crypto community wasn’t nervous enough, get ready for more since the tax stakes are going up again. For 2022 tax returns, the IRS has modified the crypto question asked on IRS Form 1040, the tax form used for individuals. A draft of the 2022 IRS Form 1040 asks: “At any time during 2022, did you: (a) receive (as a reward, award, or compensation); or (b) sell, exchange, gift, or otherwise dispose of a digital asset (or a financial interest in a digital asset)?” Crypto is one of the IRS’ big targets. The new law says the IRS will pursue “digital asset monitoring and compliance activities,” apart from general tax enforcement.

As if the crypto community wasn’t nervous enough, get ready for more since the tax stakes are going up again. For 2022 tax returns, the IRS has modified the crypto question asked on IRS Form 1040, the tax form used for individuals. A draft of the 2022 IRS Form 1040 asks: “At any time during 2022, did you: (a) receive (as a reward, award, or compensation); or (b) sell, exchange, gift, or otherwise dispose of a digital asset (or a financial interest in a digital asset)?” Crypto is one of the IRS’ big targets. The new law says the IRS will pursue “digital asset monitoring and compliance activities,” apart from general tax enforcement.

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Monday, July 18, 2022

Ethics: Insider Secrets to Avoid Malpractice and Huge Penalties Presented by Lance Wallach, CLU, CHFC, CIMC, a frequent speaker on pensions, VEBAs, financial. - ppt download

Ethics: Insider Secrets to Avoid Malpractice and Huge Penalties Presented by Lance Wallach, CLU, CHFC, CIMC, a frequent speaker on pensions, VEBAs, financial. - ppt download: Disclaimer The information provided herein is not intended as legal, accounting, financial, or any other type of advice for any specific individual or other entity. You should contact an appropriate professional for any such advice. Notice Pursuant to IRS Circular 230 Any tax advice expressed in this communication (including any attachments) is not intended to be used, and cannot be used, for the purpose of avoiding penalties imposed on the taxpayer by any governmental taxing authority or agency.