Clinton explores two main approaches that the IRS uses to enforce digital asset compliance: audits and criminal enforcement. In the first approach, the IRS determines who to audit, in part, based on whether taxpayers report as much income on their tax returns as the IRS knows about, since crypto exchanges and brokerages in the U.S. report all transactions to the IRS each year. The second approach is criminal enforcement, where the IRS goes after taxpayers who didn’t report their crypto income at all or who omitted crypto income on their tax returns. Proving criminal intent isn’t very hard to do.
✍🏽 Join The Crypto Tax Amnesty Initiative
🔥 Do your crypto taxes right with CryptoTaxAudit
▬▬▬▬▬ SPONSOR ▬▬▬▬▬
🐋 Sponsor: CryptoTaxAudit
CryptoTaxAudit, the crypto tax and IRS audit experts, sponsored this episode.
Founded in 2015, CryptoTaxAudit is a full-service tax preparation, crypto calculation, and audit defense company. Clinton Donnelly founded the company and currently serves as its president. Clinton has assembled an experienced team of crypto tax experts, including CPAs, enrolled agents, forensic accountants, and gain calculation analysts. The company’s crypto experts deliver personalized services to help clients get into compliance, develop their tax strategies, and receive professional representation before the IRS.
CryptoTaxAudit protects its clients with Audit Defense, its flagship membership service. Audit Defense membership counters the growing cost of defense against the IRS by providing a cost-effective option for crypto traders and investors.
Visit 👉 https://CryptoTaxAudit.com
▬▬▬▬▬ NOTICE ▬▬▬▬▬
⚠️ 𝗕𝗘𝗪𝗔𝗥𝗘 𝗢𝗙 𝗦𝗖𝗔𝗠𝗠𝗘𝗥𝗦 𝗜𝗡 𝗢𝗨𝗥 𝗖𝗢𝗠𝗠𝗘𝗡𝗧𝗦 𝗔𝗡𝗗 𝗖𝗢𝗠𝗠𝗨𝗡𝗜𝗧𝗬 𝗖𝗛𝗔𝗡𝗡𝗘𝗟𝗦
We will never ask you for your personal information on social media. Beware of people masquerading as our host, guests, or sponsor company.
All opinions expressed by the show’s host and guests are their own. Do not construe them as tax, legal, or financial advice. In addition, they may not represent the policies or opinions of our sponsor, CryptoTaxAudit. Research legal, tax, and financial guidance and advice as needed.
Thank you for your support. Please check out our other videos. Like, share, and subscribe!
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations.
If you can never get enough true crime... Congratulations, you’ve found your people.
Around the NFL
NFL.com's "Around the NFL" crew (Gregg Rosenthal, Dan Hanzus and Marc Sessler) break down the latest football news, with a dash of mirth.