Learn about the latest in technology and blockchain with the November 2019 newsletter.
Technology Newsletter
IRS Releases New Guidance on Taxability for Certain Virtual Currency Transactions
On Oct. 9, 2019, the IRS issued Revenue Ruling 2019-21 and 43 Questions and Answers, the first new guidance since 2014 on the taxability for certain virtual currency transactions. Check out this recent Aprio blog to learn more.
IRS Aims to Expose Cryptocurrency-Related Income with New Question on Form 1040
The IRS has circulated a new draft of the Form 1040, Schedule 1, proposing a new compliance measure that would hold taxpayers more accountable for disclosing income generated by virtual currency transactions.
Jagruti Solanki was on a panel at DISCLOSE 2019 and participated in AICPA’s Blockchain Symposium in New York.
Related Reading
Learn about Aprio's Managed Accounting Solutions
Aprio's Managed Accounting Solutions offers a complete outsourced accounting solution the provides both onsite and remote support for businesses looking to outsource part or all of their accounting and finance function. Aprio's Managed Accounting Solutions team handles day-to-day business-critical accounting activities, allowing clients to stay focused on growing their businesses.
Podcast: Blockchain for CPAs, The Basics and Beyond
Jagruti Solanki, partner in Aprio's Blockchain practice, was recently featured on the AICPA's podcast "Go Beyond Disruption" where she discussed 'smart' contracts, internal controls of digital assets and how to use blockchain for proper financial reporting. Listen to the full episode now.
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