Current Federal Tax Developments

Keeping CPAs Up to Date on Tax Matters

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2023-05-01 Court Unimpressed by Claimed CRAT Magic

May 01, 2023 by Ed Zollars, CPA

This week we look at:

  • More CRAT problems - but this one the IRS had warned against using

  • Change of protocol underlying cryptocurrency from proof of work to proof of stake is not a taxable event

  • Fact some countries now treat Bitcoin as legal tender does not change its status as property, not foreign currency

  • Taxpayer finds they had to wait a year to claim a deduction for cashier’s check purchased to settle legal dispute

An audio only version of this week’s broadcast can be streamed or downloaded below:

The slides and links to supporting articles can be downloaded below:

2023-05-01 Current Federal Tax Developments

May 01, 2023 /Ed Zollars, CPA
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