Understanding cryptocurrency fraud
Cryptocurrency fraud falls into two main categories: Scams soliciting investment Theft of accounts The number of cryptocurrency scams is decreasing as people […]
Category: Cryptocurrency
The bitcoin conversation
Text message from Facebook friend: “Quick question: what are your thoughts on bitcoin? My sons keep telling me I need to get […]
CNBC published incorrect tax advice about reporting of cybercurrency
SHAME ON @CNBC editors and author @sahahtobrien! This type of inaccurate reporting of tax policy and procedure in this article should be […]
Update on new Bitcoin reporting requirement
This blog post uses “Bitcoin” in the title that actually could refer to all types of virtual currency. On December 23, 2020 […]
Forecast: Cryptocurrency ownership reporting will be required
This blog post is based on a presumption and projection of a proposed rule that may be modified delayed or cancelled. In […]
Does simply owning cyber currency put you at increased risk of audit and tax penalty?
Many cyber currency owners believe that if they didn’t receive any cash then there is no tax due now. IRS disagrees and […]
IRS just got serious about cryptocurrency
The just-released draft copy of Form 1040 Schedule 1 that starts off with the question: “At any time during 2019, did you […]
Concern over Tether
I’ve written a series of posts on the theme that investors have good reason for concern about cryptocurrency investments. The latest concern […]
Implications of blockchain in everyday accounting
The AICPA co-published a new report on blockchain that is written primarily by accountants at Deloitte & Touche LLP. The report covers a […]
Watch out for these two latest online scams
Scams always require two components: the media and the message. CPAs are indoctrinated with specific education and are required to maintain an […]