Crypto Tax Problem Resolution

cryptocurrency tax problem help

After years of avoiding taxation, the IRS is now regulating Bitcoin, Ether, Dash, and other types of cryptocurrencies. If you’re 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 Delerme CPA, we have the skills and expertise to help resolve IRS tax problems related to cryptocurrency. We can assist with amending past tax returns, filing back taxes, 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 carefully track the U.S. dollar value of your digital currencies at the time of each taxable transaction. If your recordkeeping does not already include this information, research is required in order to calculate the tax correctly. This may sound daunting, but we offer the support you need to clean up your records and adjust your tax filings to satisfy the IRS.

If the IRS is coming after you, ignoring the problem will only make it worse. Request a free consultation online or call us at 404-445-8095 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
  • Filing installment agreements