RATE Group | Don’t Avoid the IRS’s Cryptocurrency Letters, Tax Advisers Warn
57429
post-template-default,single,single-post,postid-57429,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Don’t Avoid the IRS’s Cryptocurrency Letters, Tax Advisers Warn

09 Aug Don’t Avoid the IRS’s Cryptocurrency Letters, Tax Advisers Warn

Posted at 12:42h in Cryptocurrency News by

[ad_1]

Individuals who received letters from the IRS recently should heed the agency’s warnings about reporting their cryptocurrency assets.

Failure to take the letters seriously could mean big penalties down the road, said Evan Fox, practice leader in the Digital Asset Advisory Services group at Berdon LLP in New York. “The IRS likely after this will not be lenient if they happen to catch people.”

The agency in July began sending letters to more than 10,000 cryptocurrency users suspected of failing to report or misreporting their digital assets. The letters warn of potential civil or criminal enforcement action if…

[ad_2]

Source link

Tags:
, , , , , , ,