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Cryptocurrencytax clarkhillstrasburger

CRYPTOCURRENCY TAX COMPLIANCE AND ENFORCEMENT

Cost Free
Presentation Length 1.0 hour

Recorded DateJune 11, 2018
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaTaxes
Course LevelBasic
Course Description

There are numerous tax compliance and enforcement issues related to cryptocurrency, resulting in a complex legal framework for taxpayers attempting to invest and use cryptocurrency in their daily lives. With the recent DOJ enforcement activities and the IRS guidance from 2014 seeming a bit stale, practitioners should anticipate additional IRS and DOJ activity in this area.

This program will discuss the following:

 


  • The evolution and impact of cryptocurrency (including Bitcoin) and Blockchain technology.

  • The IRS treatment of cryptocurrency and related compliance issues.

  • The impact of the Tax Cuts and Jobs Act on the tax treatment of cryptocurrency.

  • Legislative and administrative proposals to address cryptocurrency compliance concerns for taxpayers.

  • IRS and DOJ enforcement activities with respect to cryptocurrency.

  • Options for taxpayers with unreported cryptocurrency gains, including voluntary disclosure.

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Joshua Wu, a former Deputy Assistant Attorney General (DAAG) for Appellate and Review in the Tax Division of the US Department of Justice (DOJ), counsels and advocates for companies and high-net-worth individuals on all aspects of tax controversies and litigation. Mr. Wu advises on tax accounting disputes, corporate and partnership transactional issues, international questions, employee benefits matters, and tax-exempt controversies. He brings a unique knowledge base and skill set to his clients, drawing on his experience both in senior leadership roles in the DOJ’s Tax Division and private practice.
 
Most recently, when Mr. Wu served as DAAG, he oversaw virtually all appeals in civil federal tax cases throughout the country and managed a 40-lawyer team. He also represented the United States in oral appellate arguments, evaluated and approved significant civil settlement offers, and furnished advice to the Tax Division’s trial sections in complex tax cases.
 
Mr. Wu previously served as DAAG for Policy and Planning, where he led the Office of Management and Administration (OMA) at DOJ. In that role, he led the operational functions of the Tax Division and led the Office of Legislation and Policy, which works with the Department of Treasury, the IRS, and other agencies on legislative, regulatory, and policy initiatives. Before his government service, Mr. Wu was a partner at a large international law firm. 

About Our Presenter

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Clark Hill is a multidisciplinary international law firm that draws on its attorneys’ comprehensive industry and policy knowledge, deeply held shared values, and a global network of premier firms and advisors to provide effective legal solutions and client-service excellence. One of the top 100 firms in the United States — with over 600 attorneys and professionals in 25 offices across the nation, as well as offices in Dublin and Mexico City, we are a committed partner to a diverse range of leading brands, forward-thinking businesses, public entities, nonprofit organizations and individuals. Our significant presence in Washington, DC, and our deep government relations and public affairs experience at every level help ensure that our clients’ voices are heard in the development of federal and state regulatory policy and legislation.