9422023 2

Author: Robert K Minniti

CPE Credit:  2 hours for CPAs
2 hours Federal Tax Law for CTEC
2 hours Federal Tax Related for EAs and OTRPs

Are you interested in how cryptocurrencies were developed and how they work? Does blockchain technology provide sufficient security for cryptocurrencies? What are the advantages and disadvantages of using cryptocurrencies? What are the tax consequences of investing in cryptocurrencies or using them for personal or business transactions?

This course is designed for individuals who would like to obtain a basic understanding of crypto currency. The course will cover the history of virtual currencies and explain how they work. We will review some of the legal issues involved with virtual currencies. The course will cover the advantages and disadvantages of using virtual currencies. We will review the IRS rules for tracking and reporting crypto currency transactions for tax purposes.

This course has been updated for new developments including new laws, regulations, and tax forms.

Publication Date: June 2022

Designed For
CPAs, CFEs, CMAs, CIAs, CFFs, CVAs, CGMAs, CIAs, CFFs, MAFFs, managers, business owners, investors, and anyone else interested in learning about virtual currencies.

Topics Covered

  • What Is Virtual Currency?
  • History of virtual currencies and explain how they work
  • Pros and Cons for Using Cryptocurrency
  • Blockchain
  • History of Bitcoin
  • History of Ethereum
  • Initial Coin Offerings
  • Other Digital Currencies
  • Cryptocurrency Scammers
  • Initial Coin Offerings
  • Virtual Currency Frauds
  • Virtual Currency Wallets
  • Accounting & Audit Guidance
  • Virtual Currencies & Taxes
  • Reporting Cryptocurrencies
  • Capital Gains Tax


Learning Objectives

  • Describe cryptocurrency
  • Recognize the tax implications of using or investing in cryptocurrency
  • Identify which type of virtual currency is similar to coupons such as frequent flyer miles with airlines and Amazon coin
  • Identify one of the disadvantages of cryptocurrency
  • Describe what year Bitcoin was first released
  • Describe the situation when scammers use your computer or smartphone's processing power to "mine" cryptocurrency for their own benefit, and without your permission
  • Recognize how virtual currency is treated for federal tax purposes



Instructional Method

Field of Study
Taxes (2 hours)

Program Prerequisites

Advance Preparation

Additional Course Details

  • Filed of Study: Taxation
  • Publisher: Wolters Kluwer
  • Course Level: Basic
  • Pre-Requisites: None
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