Should Your Cannabis or Bitcoin Client Consider Taking the Fifth?

Overview

  • Excellent presentation last year discussing California’s Cannabis Industry. We will not duplicate.
  • Goldman Sachs is considering a trading desk specifically for bitcoin. WSJ 10/2/17
  • Over 100,000 merchants accept bitcoin payments. CryptoCoinsNews
  • Merchants include Overstock.com, Home Depot, DirectTV, Dell, Microsoft, Amazon and Expedia. Time.com
  • Brief discussion of virtual currency
    • What is “virtual currency”
  • IRS Guidance
    • Notice 2014-21
  • Civil Exam Considerations
    • LB&I “John Doe” Summons
  • Case Studies

What is Cybercurrency?

  • Cryptocurrency is any of the many digital currencies exchanged by means of encrypted software and held in digital wallets.
  • Several hundred cryptocurrencies exist, with bitcoin the best known.
  • People who hold cryptocurrency that’s part of the same network can trade coins or make purchases where the currency is accepted.
  • Unlike fiat currency – like U.S. dollars, euros and yen – cryptocurrency is not regulated or controlled by any government agency.

Download PDF

Client Reviews

I approached Mr. Ben-Cohen regarding a pending case with the State of California and my small business. During a time that was quite stressful, I found Mr. Ben-Cohen to be the perfect person to represent me and my company. He communicated with me in clear terms so that I understood everything that...

Google, We Care Spa

I am an international tax advisor and have worked with Pedram on more than a dozen difficult and challenging cases. Pedram's clients and fellow advisors highly respect him because he has an uncanny ability to quickly identify and work diligently to resolve his clients' issues. Pedram is pragmatic in...

Avvo, Curt

Top Drawer Tax Fraud Lawyer. Pedram got me out a CI jam I thought I would not resolve. He is also fair and reasonable with his billing. I interviewed 4 top Tax Fraud Lawyers in LA and went with Pedram...Glad I did!

Google, Michael Jeppson

Pedram Ben-Cohen at Ben-Cohen Law Firm, PLC is one of the most incredible, creative, and caring attorneys I have ever dealt with. He gave us hope but also gave us the reality and worst case scenario. He fought for us tooth and nail. The attention and time Pedram put into the case was like no other...

Avvo, Anonymous

A few years ago I had a major tax problem and I was looking for the right professional tax lawyer. I interviewed at least five experts and all of them were very professional. I am very picky. When I met Mr. Pedram Ben-Cohen, it took me no more than five minutes to decide that he was the one, and I...

Google, Shlomo Kattan

Contact Us

Fill out the contact form or call us at (310) 272-7600 to schedule your consultation.

Leave Us a Message