Cryptocurrency Tax Services

In the U.S., all income is taxable, for the most part. The few exceptions are intended to boost the economy, social welfare, certain types of investments, charity earnings, etc .

Gains from cryptocurrency transactions are not an exception.

Gains from cryptocurrency transactions are taxable.

In its infancy, this new form of bartering and trading was relatively anonymous and untraceable. But when the IRS realized that billions of US fiat were moving through markets, they simultaneously realized the US Treasury was losing millions of dollars by not taxing the income from cryptocurrency trades.

In 2013, the IRS succeeded in gaining legal access to cryptocurrency information and thereby became able to tax the income. Beginning in 2019, the IRS began sending thousands of dunning notices to taxpayers who had hidden this new form of income.

If you don’t want to be penalized for underreporting income, you must know how to provide the proper information to the IRS on your tax return. We can accomplish that for you.

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