IRS Crypto Audit: What To Do When You Get *That* Letter From the IRS

Here's what to do if you find yourself on the receiving end of a crypto tax audit by the IRS.

Is the IRS going after you for unreported crypto transactions? Call 866-8000-TAX or visit https://choicetaxrelief.com/free-tax-relief-consultation/ to book your FREE tax consultation!

Table of Contents:
0:00 IRS Crypto Audit Notice
1:21 What the IRS Knows About Your Crypto
2:28 They're Trying to Tax You on Your GROSS Rather Than Your NET
3:00 A CP2000 Is Not Technically an Audit
3:38 You Could Have Had a Loss on Your Crypto and the IRS Would Still Try to Tax You!
5:40 Step 1: Determine Which Transactions the IRS Thinks You Didn't Report
6:25 Step 2: Make Sure You Actually Made Those Transactions and Didn't Report Them
7:01 Step 3: Determine What Your Actual Tax Liability Is on These Transactions
7:24 Step 3a: Gather Your Necessary Documentation About Your Crypto Transactions
11:31 Step 3b: Calculate Your Gain on Your Crypto Transactions
11:52 Step 3c: Consider Plugging Your Figures Into a Tax Software
12:35 Step 4: Fax a Response Letter to the IRS Along With Your Supporting Documents
15:03 Step 5: Respond to Any Additional IRS Requests for More Information
15:35 CP2000 Closing Letters
16:03 Consider Tax Relief Options

#cryptotax #cryptotaxes #crypto

Видео IRS Crypto Audit: What To Do When You Get *That* Letter From the IRS канала Logan Allec