Cima, Ronald P.
Digital asset and offshore account FBAR issues for investors /Ronald P. Cima and Anthony Tu-Sekine .-- , 2019
Disponible también en formato electrónico.
Resumen.
The increasing public acceptance of bitcoin, other cryptocurrencies, and virtual assets has presented challenges to the IRS with regard to how they should be reported for tax and Bank Secrecy Act purposes. With the IRS expressing concern that some taxpayers are using virtual currencies to hide income or engage in other illegal activities, taxpayers who own digital assets should focus on when virtual assets, which are held in offshore accounts, should be reported to FinCEN on FBARs. The authors suggest a framework
to assist with this inquiry until such time as the IRS or Fin-CEN issues formal guidance.
CRIPTOMONEDA
ELUSION FISCAL
INFORMACION TRIBUTARIA
ESTADOS UNIDOS
Tu Sekine, Anthony
Journal of Taxation of Investments 0747-9115 v. 37, n. 1, Fall 2019, p. 31-45
Digital asset and offshore account FBAR issues for investors /Ronald P. Cima and Anthony Tu-Sekine .-- , 2019
Disponible también en formato electrónico.
Resumen.
The increasing public acceptance of bitcoin, other cryptocurrencies, and virtual assets has presented challenges to the IRS with regard to how they should be reported for tax and Bank Secrecy Act purposes. With the IRS expressing concern that some taxpayers are using virtual currencies to hide income or engage in other illegal activities, taxpayers who own digital assets should focus on when virtual assets, which are held in offshore accounts, should be reported to FinCEN on FBARs. The authors suggest a framework
to assist with this inquiry until such time as the IRS or Fin-CEN issues formal guidance.
CRIPTOMONEDA
ELUSION FISCAL
INFORMACION TRIBUTARIA
ESTADOS UNIDOS
Tu Sekine, Anthony
Journal of Taxation of Investments 0747-9115 v. 37, n. 1, Fall 2019, p. 31-45