JD Supra Law Matters Consults ParenteBeard’s Bruce Feinstein on Mining Bitcoins
April 1, 2022

JD Supra’s Law Matters, which asks industry professionals for their quick take on popular news of the day, and specifically how such matters affect people in their personal or professional lives, consulted ParenteBeard Principal Bruce Feinstein on mining Bitcoins.

According to Mr. Feinstein, since transactions using virtual currency must be reported in United States dollars, taxpayers will be required to determine the fair market value of virtual currency in US dollars as of the date of payment or receipt.

A highly regarded tax lecturer, Mr. Feinstein has spoken on a wide range of subjects at the Philadelphia Bar Association Tax Section, Philadelphia Tax Conference, Villanova University, Temple University and the International Fiscal Managers Association. He has also written articles for The American Institute of Certified Public Accountants’ Tax Clinic, The Journal of International Taxation and the Mergers and Acquisitions Tax Journal. He holds a bachelor’s and master’s degree from Temple University and a master’s of law from New York University of Law.

More of Mr. Feinstein’s insights in - Mining Bitcoins after the IRS ‘Property’ Ruling – Nothing New Under The Sun.