Compliance Solutions to provide key considerations, insights to broker, investor community
Wolters Kluwer Compliance Solutions is set to host a webinar focused on exploring the newly enacted U.S. cryptocurrency tax reporting rules and their impact. The webinar, "Understanding the New Cryptocurrency Reporting Rules and Their Impact on Brokers and Financial Institutionswill take place from 3-4 pm EST Tuesday, December 7, 2021.
The Infrastructure Act recently signed into law by President Biden explicitly requires IRS Form 1099-B gross proceeds and cost basis tax reporting for U.S. sales of digital assets, including cryptocurrencies, effective beginning for returns required to be filed in 2024. An overview of this new requirement and important initial implications will be provided, and other virtual currency tax developments also will be discussed, time permitting.
Representing Wolters Kluwer Compliance Solutions on the webinar are Stevie Conlon, Vice President, Tax Regulatory Counsel; Anna Vayser, Investment Compliance Solutions Corporate Actions Product Manager; and Robert Schwaba, Manager, Specialized Consulting, Tax Regulatory. The participants have co-authored a number of tax articles relating to cryptocurrencies since 2018.
"Cryptocurrencies and other digital assets present a range of challenges as well as new opportunities in today's financial services landscape," said Steve Meirink, Executive Vice President and General Manager, Wolters Kluwer Compliance Solutions. "It is critical for brokers, investors and all other market participants to be fully aware of tax reporting protocols and the changing tax and regulatory landscape in order to remain fully compliant."
Wolters Kluwer Compliance Solutions is a market leader and trusted provider of risk management and regulatory compliance solutions and services to U.S. insurers, banks and credit unions, and securities firms. The business, which sits within Wolters Kluwer's Governance, Risk Compliance (GRC) division, helps these financial institutions efficiently manage risk and regulatory compliance obligations, and gain the insights needed to focus on better serving their customers and growing their business.
Wolters Kluwer's GRC division provides an array of expert solutions to help financial institutions manage regulatory and risk obligations. Wolters Kluwer Compliance Solutions' eOriginal suite of purpose-built, digital lending solutions, for example, helps lenders digitize their transactions and features electronic signatures, collateral authentication and an electronic vault. Compliance Solutions' OneSumX for Regulatory Change Management tracks regulatory changes and organizes them to create structured, value-added content through a single data feed that is paired with an easy-to-use software solution. Wolters Kluwer Finance, Risk Regulatory Reporting (FRR), meanwhile, is a global market leader in the provision of integrated regulatory compliance and reporting solutions. The division's legal solutions businesses are Wolters Kluwer CT Corporation and Wolters Kluwer ELM Solutions.
About Wolters Kluwer Governance, Risk Compliance
Governance, Risk Compliance is a division of Wolters Kluwer, which provides legal and banking professionals with solutions to help ensure compliance with ever-changing regulatory and legal obligations, manage risk, increase efficiency, and produce better business outcomes. GRC offers a portfolio of technology-enabled expert services and solutions focused on legal entity compliance, legal operations management, banking product compliance, and banking regulatory compliance.
Wolters Kluwer (AEX: WKL) is a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. Wolters Kluwer reported 2020 annual revenues of €4.6 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,200 people worldwide.
Global Corporate Communications Director
Governance, Risk Compliance Division
Office +44 20 3197 6586
Corporate Communications Manager, Banking Regulatory Compliance
Governance, Risk Compliance Division
Tel: +1 612-852-7966
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