Taxes: Taking a Bite out of Bitcoin

This tax research case introduces students to virtual currency taxation issues, which are increasingly important in the global economy. The setting provides an overarching story with three inter-related taxpayers and a variety of transactions—miner, short-term investor, and long-term investor—thus,...

Full description

Saved in:
Bibliographic Details
Published in:Issues in accounting education 2021-02, Vol.36 (1), p.57-64
Main Authors: Inger, Kerry K., Mathis, Mollie
Format: Article
Language:English
Subjects:
Currency transactions
Digital currencies
Global economy
Tax legislation
Taxation
Citations: Items that this one cites
Items that cite this one
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:This tax research case introduces students to virtual currency taxation issues, which are increasingly important in the global economy. The setting provides an overarching story with three inter-related taxpayers and a variety of transactions—miner, short-term investor, and long-term investor—thus, allowing instructors to assign individuals or groups to one or more scenarios. There is limited primary authority on virtual currency, leading students to relate the virtual currency transactions to existing primary authority. The case learning objectives are: (1) critical thinking, (2) technical knowledge, (3) tax research proficiency, and (4) written communication skills. Students identify relevant tax-related issues, conduct tax research, and prepare a research memorandum that summarizes their findings.
ISSN:0739-3172
1558-7983
DOI:10.2308/ISSUES-19-061