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New IRS Warning Letters Target Crypto Investors Who Misreported Trades

Nikhilesh De

Related: North Carolina Congressman Reintroduces Crypto Tax Bill

“Basically what it says is ‘hey we have a report from one of the financial institutions you use and the amount they reported to us the IRS is different than the amount you, the taxpayer, reported and this is the amount you owe’ and it’s a 30-day letter meaning you have to respond in 30 days.”

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