The purpose of this webinar is to explore the Indirect Methods for analyzing virtual currency and cash-based businesses. This session will teach you techniques for uncovering unreported income.
You will learn about the new digital world that involves virtual currency, cellphone transfers, EFTs, PayPal, and Web Money. Much of this information has been gleamed from the IRS Auditors’ Study Manual known as the Audit Technique Guide. So, strap yourself in and prepare to learn something interesting.
By the end of this course, you will be able to:
- Utilize techniques for uncovering unreported income.
- Identify the distinctions between cash transactions, virtual currency, cellphone transfers, EFTs, PayPal, and Web Money.
- Help your clients accurately report their taxable income from these sources.
- Explain how barter and cryptocurrency are finding common alliances.
