IRS: "We have information that you have or had one or more accounts containing virtual currency but may not have properly reported your transactions involving virtual currency"
I received a letter from the IRS today that accuses me of breaking the law. Yet I believe I have properly reported and paid all the taxes I was supposed to on my bitcoins.
They've sent out three letters, and mass mailing started this week. The three letters are:
6174: Basically means they know you have crypto
6174-A: Basically means they think you broke the law and haven't paid your taxes, and may or may not start enforcement actions on you soon
6173: Means they are sure you broke the law, and are coming after you now.
I received 6174-A. Even once I prove I did everything correctly, it's probably going to have cost me many hours and maybe a lot of money to an accountant. Just a heads up to everyone for what's coming.
You can read more about the letters here:
Submitted July 26, 2019 at 03:43AM by q928hoawfhu https://ift.tt/2JPIywh
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