Crypto Tax Problem Resolution

Crypto Tax Resolution

After years of avoiding taxation, the IRS is now regulating Bitcoin, Ether, Dash, and other types of cryptocurrencies. If you’re an investor involved in trading, bartering, or exchanging cryptocurrency for services, the IRS is watching and they want their share. But the rules governing cryptocurrency are debatable and unclear, even for many seasoned tax professionals. At W. E. Stevens, P.C., we possess the special knowledge and expertise to help investors resolve IRS tax problems related to cryptocurrency. We can assist with amending past tax returns, filing back tax returns, responding to tax notices, and more.

Cryptocurrency Tax Compliance

The biggest difficulty for digital currency traders and investors is keeping accurate records. If you don't report your virtual transactions properly the IRS will go after you for penalties and interest and you can even face criminal prosecution. But reporting your income on these transactions is tricky. You must maintain records that include the U.S. dollar value of the purchase at the time of each transaction. If your recordkeeping does not already include this information, careful research is required in order to calculate tax correctly.

If you're in hot water with the IRS, ignoring the problem will only make it worse. Request a free consultation online or call us at (402) 932-8815 now to find out how to resolve your cryptocurrency tax problems.

Help with crypto tax problems:

  • Cryptocurrency and Bitcoin tax advisory
  • Responding to IRS and State tax notices
  • IRS audit representation
  • Filing back taxes
  • Penalty abatement negotiations
  • Negotiating property or wage levy release
  • Offers in Compromise
  • Filling installment agreements