FMN Taxes

FMN PLUS- 2023/August, Seg 2 -Cryptocurrency Part II: Compliance & Crypto-Asset Reporting Framework

In light of the rapid growth of the crypto-asset market, the Crypto-Asset Reporting Framework (CARF) was released in the fall of 2022. The framework provides details regarding the reporting of information on crypto-asset transactions in a standardized format. As part of the Crypto Reporting Panel at the Kaplan International Tax Withholding and Information Reporting Conference, tax practitioners Cyrus Daftary, Tim Rappoccio, Stevie Conlon, Jill Dymtrow, and Erin Fennimore discuss the framework recommendations as well as implementation and adoption challenges.

Learning Objectives:

  • Recognize the benefits and limitations of Decentralized Autonomous Organizations (DAOs)
  • Describe the complexities and implications for cryptocurrencies related to IRC Section 6050I and 6050W
  • Recognize the importance of the need for clarifying cryptocurrency regulations from the IRS
  • Describe the purpose, impact, and challenges of implementing the Crypto-Asset Reporting Framework


Prerequisites/Advanced Preparation:

Work experience in tax planning or tax compliance, or an introductory course in taxation.

Speakers / Authors:

Photo of Cyrus Daftary

Cyrus Daftary
Burt, Staples and Maner, LLP

Cyrus Daftary is is a partner at Burt, Staples and Maner, LLP, specializing in international taxation and regulatory compliance. Mr. Daftary has particularly extensive experience with the United States withholding and reporting rules for U.S. and non-U.S. persons, as well as the USA Patriot Act and various anti-money laundering regimes, the European Savings Directive, and e-commerce issues.

Mr. Daftary has worked with a large number of major financial institutions and multinational corporations, and continues to do so as an advisor and executive member of Compliance Technologies International, LLP. In this capacity, he addresses the problems associated with compliance obligations and implements operational, systemic processes, outsourcing, and IT solutions to ensure prospective compliance with these rules.

Mr. Daftary has extensively lectured and published in the areas of anti-money laundering, the European Savings Directive, international withholding and reporting, tax technology, and e-commerce topics as a part of both his academic and private practice. Mr. Daftary is a co-author of three editions of the E-Business Legal Handbook, and has taught courses on cyber-law, Internet taxation and e-commerce as an adjunct professor at Suffolk University School of Law, Northeastern University’s Master of Taxation program, and Suffolk University’s Frank Sawyer School of Business.

In 1990, Mr. Daftary graduated from Indiana University with a B.S. He earned his J.D. in 1994 from the University of Dayton School of Law and his LL.M. in 1996 from Temple University. He is admitted to practice in the District of Columbia, Indiana and Massachusetts.

Stevie Conlon, Kaplan.

Tim Rappoccio, Kaplan.

Jill Dymtrow, Kaplan.

Erin Fennimore, Kaplan.

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Price (USD)

Standard: $69.90

Details

Course Code : FMN1513-FM

Release Date : 08/10/2023
Expire Date : 03/14/2025
Credits :
CPE 4.00
QAS 4.00

Length : 1hr 40min

Course Type : QAS Self-Study
Passing Grade : 70%
Format Type : eLearning
Mobile Compatible
Field Of Study : Taxes

Theme : Corporate Tax Series

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