News, standards updates and audit guidance for crypto-accounting teams, covering reporting, compliance and regulatory developments.
Third Circuit's Murrin decision binds Tax Court practitioners in DE/NJ/PA: a preparer's fraud alone triggers Section 6501(c)(1)'s unlimited assessment window, exposing innocent clients to decades of back-tax and interest liability
IRS disputes CP53E errors exist while AICPA collects practitioner examples of erroneous notices sent to taxpayers who owed nothing
The IRS has issued new guidance on AI risks under Circular 230, increasing compliance duties for tax practitioners. Crypto accounting software can help firms manage these obligations.
The IRS filing season disparity between online and other filers highlights the need for robust crypto accounting software to ensure accurate reporting and reduce audit risk for accounting firms.
The court case highlights the importance of accurate tax classification for investment firms, which can be supported by crypto accounting software.
