Skip to Main Content

Zhanna Ziering Weighs in on IRS Proposed Change for Form 1040

September 28, 2020, Tax Notes

Practitioners say the IRS’s proposal to move the virtual currency checkbox to the Form 1040 itself is a good move, but they wonder why the agency didn’t also change the wording of the question.

. . .

Moving the question to Form 1040 “certainly gives it front-page visibility,” said Zhanna A. Ziering of Caplin & Drysdale. “It also avoids the issue of taxpayers not required to file Schedule 1 missing the question.”

. . .

Ziering said she hopes more clarity will be provided in the instructions to Form 1040. She noted that last year’s instructions to Schedule 1 didn’t define “financial interest” or explain what it means to acquire a financial interest in virtual currency.

For the full article, please visit Tax Notes’ website (subscription required).


About Caplin & Drysdale
Celebrating our 55th Anniversary in 2019, Caplin & Drysdale continues to be a leading provider of legal services to corporations, individuals, and nonprofits throughout the United States and around the world. We are also privileged to serve as legal advisors to accounting firms, financial institutions, law firms, and other professional services organizations.

The firm's reputation over the years has earned us the trust and respect of clients, industry peers, and government agencies. Moreover, clients rely on our broad knowledge of the law and our keen insights into their business concerns and personal interests. Our lawyers' strong tactical and problem-solving skills -- combined with substantial experience handling a variety of complex, high stakes, matters in a boutique environment -- make us one the nation's most distinctive law firms.

With offices in New York City and Washington, D.C., Caplin & Drysdale's core practice areas include:
For more information, please visit us at
Washington, DC Office:
One Thomas Circle NW
Suite 1100
Washington, DC 20005
New York, NY Office:
600 Lexington Avenue
21st Floor
New York, NY 10022


This communication does not provide legal advice, nor does it create an attorney-client relationship with you or any other reader. If you require legal guidance in any specific situation, you should engage a qualified lawyer for that purpose. Prior results do not guarantee a similar outcome.

Attorney Advertising
It is possible that under the laws, rules, or regulations of certain jurisdictions, this may be construed as an advertisement or solicitation.
©2021 Caplin & Drysdale, Chartered
All Rights Reserved.

Related Professionals

Related Practice Area(s)