Bryan C. Skarlatos quoted in "Washington Is Trying to Regulate Bitcoin. These People Are Trying to Stop It", Fortune
Cryptocurrency surged this year as bitcoin enthusiasts struck it rich. Bryan C. Skarlatos lends his expertise to the matter in the article "Washington is Trying to Regulate Bitcoin. These People Are Trying to Stop It." With bitcoin skyrocketing past $17,000 this year there are rising concerns that there is not enough regulation surrounding cryptocurrency. In an excerpt from the article:
"The IRS classified digital currency as property in 2014, meaning transactions are subject to capital gains tax. Using bitcoin or other virtual currency to purchase goods and services is considered exchanging property, and all the transactions must be tracked for gains and losses, said Bryan Skarlatos, a tax attorney at Kostelanetz & Fink LLP who has lectured and written about bitcoin."
Bryan C. Skarlatos moderated a panel titled "How Far Can You Go? Ethical And Penalty Issues In Everyday Tax Practice" at the 76th Institute on Federal Taxation in San Francisco
The 76th Institute on Federal Taxation addressed all major areas of taxation and is designed for the practitioner who must frequently anticipate and handle federal tax matters. Nationally recognized experts guided attendees through in-depth general sessions and panel discussions that covered the most advanced tax issues.
Bryan C. Skarlatos presented "IRS Update: Hot Tips On Tax Penalties" at the 2017 AICPA Sophisticated Tax Planning For Your Wealthy Clients Conference
The number of accuracy-related penalties assessed against individual taxpayers increased from 58,366 in 2005 to 553,184 in 2015. That is nearly a 1,000% increase over the past decade! Are there more bad taxpayers? Or, is the IRS just getting more aggressive about asserting penalties? Regardless of the answer, responsible tax practitioners must understand what triggers a penalty assessment and how to protect their clients and themselves against such assessments. This session provided useful tips on how to deal with the IRS when tax penalties raise their ugly head.
With bitcoin trading hitting all-time highs, Ryan Derousseau explores tax-related issues in Money Magazine's recent article, "There's a Hidden Bitcoin Tax You Need to Know About". In a quote from the article:
"You can even buy lunch at a Subway sandwich shop in Allentown, Penn. using bitcoin, or gain access to the VIP room of a “gentlemen’s club” in Las Vegas.
Bryan C. Skarlatos presented "How Far Can You Go? Ethical And Penalty Issues In Everyday Tax Practice" at the NYU-SPS 76th Institute On Federal Taxation
The NYU School of Professional Studies Institute on Federal Taxation is designed for the practitioner who must frequently anticipate and handle federal tax matters. It provides high-level updates, practical advice you can implement, and in-depth analysis of the latest trends and developments from leading experts.
Bryan C. Skarlatos participated in a panel titled "Mastering Bitcoin, Blockchain, & Digital Currency Law CLE" at The Rossdale Group Telephonic Seminar
The huge expansion in Bitcoin & digital currencies in states across the nation and globally has led to a significant need for attorneys proficient in the cutting-edge use of related legal and regulatory issues. The laws vary greatly and have been in flux with the proliferation of Fortune 500 companies, governments, and start-ups seeking to take advantage of this growing use of currency. The faculty for this seminar featured several leading authorities on the subject.
Op-Ed By Bryan C. Skarlatos
Featured on CNBC
Crypto currencies may have been around for less than a decade, but they are proliferating so quickly that our established tax and regulatory systems can't keep up. And that could create serious tax problems for those who would join the digital currency revolution.
Bryan C. Skarlatos presented "Exploring The Limits Of The Evolving Economic Substance And Business Purpose Doctrines And Related Ethics Issues" at PLI Tax Strategies 2017
Exploring the Limits of the Evolving Economic Substance and Business Purpose Doctrines and Related Ethics Issues - Recent cases and guidance; when to apply which doctrine; the two-prong test (the objective component and the subjective component) of the codified economic substance doctrine.