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Expert Take Over the past month, we have seen the IRS, the tax collecting agency of the United States, send out more than 10,000 warning and action letters to suspected cryptocurrency holders and traders who may have misreported digital assets on their tax returns. Letters like the 6174-A, 6173 an..
Expert Take Willful and non-willful tax flubs are different. Taxes are complex, and innocent tax mistakes can often be forgiven — maybe with no penalty. Even if there is a penalty, non-willful is vastly lower than willful. In a criminal tax case, this fundamental dichotomy can mean the difference ..
Crypto Map Upon its inception, Bitcoin was envisioned as a borderless currency that could be used by its owners without being affected by the regulatory impositions of any centralized agency or government body. And while this idea in itself is quite grand, the fact of the matter is that today'..
If you have outstanding tax debt, the IRS may now want to take your passport. For U.S. crypto holders still waiting on promised IRS guidelines for filing — especially those overseas who may have missed these warning memos — the over 400,000 agency notifications issued since February last year are tr..
Expert Take The IRS has begun sending letters to people with digital currency transactions who may have failed to report income and pay taxes, or who did not report their transactions properly. By the end of August, more than 10,000 taxpayers will receive the letters, targets the IRS says it obtai..
Tax season is months away, which is why you need to start preparing for it now. Leave everything to the last minute and you’ll only end up cursing your procrastination. Organize your cryptocurrency activity in advance and you’ll breeze through tax deadline day without so much as flinching. Despite m..
Taxes. The one word that can kill any buzz in seconds flat. Whether you’re a libertarian ranting about how taxation is theft or one of those fabled creatures who is actually happy to file them as their so-called civic duty, one fact remains: those who don’t give the government a bite — or make mista..
News Scam letters purporting to be from the United States Internal Revenue Service (IRS) are trying con cryptocurrency taxpayers and others out of their funds. According to a Forbes report published on August 5, bogus letters are attempting to capitalize on the public’s lack of familiarity with le..
The U.S. Internal Revenue Service (IRS) announced on July 26 that 10,000 American cryptocurrency users will receive a letter reminding them to pay taxes or amend any mistakes on past filings. At the time, IRS Commissioner Charles Rettig said U.S. taxpayers should take the warning letters “very serio..
In a string of recent Tweets, 2020 Libertarian presidential candidate and fugitive from the law John McAfee has been talking about slavery. Urging people to “wake up” and assuring them that neither compliance with the status quo, nor stacks of riches, can set them free. Indeed, when the current stat..
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