Attention all US-based crypto traders! The IRS knows that approximately 75% of crypto traders need to report their crypto income on their tax returns. The IRS is using a new technique that we call "portfolio reconstruction" to identify underreported income.

Additionally, they are using AI and machine learning tools to go after those who fail to report their income. Failing to report your crypto income can lead to severe consequences, including hefty fines, imprisonment, and long-lasting damage to your reputation.

Watch this video now to understand why it's crucial to report all crypto income accurately to the IRS.

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Disclaimer

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.

Join us for an expert discussion on tax laws for crypto investors in the US and UK in 2024. In this episode, Clinton Donnelly and Jamie Nuttall from Myna explore the different tax regulations in both countries.

Learn about the differences and similarities between the tax systems, from capital gains to airdrops and potential future tax implications. Stay informed with insights from two seasoned professionals. Don't miss out on valuable information that could impact your financial future as a crypto investor. Tune in now!

Taxes can be a source of confusion and stress. If you're feeling overwhelmed, CryptoTaxAudit.com is here to help.

Our team of experts specializes in cryptocurrency taxation and can assist you in accurately reporting your income, which can potentially help you avoid any negative consequences.

So don't hesitate—contact CryptoTaxAudit.com today 👉https://www.cryptotaxaudit.com/crypto-tax-consultation.

Let us take care of you!

CryptoTaxAudit is the ultimate solution for ensuring your crypto taxes are precise and fully compliant with the latest regulations. With expert guidance and support, you can avoid costly penalties and enjoy complete peace of mind. Don't take any chances with your hard-earned assets. Become an IRS Guard Dog member today and take control of your financial future!

Learn More 👉 https://www.cryptotaxaudit.com/about

Join our community 👉 https://linktr.ee/cryptotaxfixer

Thank you for your support. Please check out our other videos. Like, share, and subscribe!

Disclaimer

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.

In March 2024, the government released a budget proposal outlining potential planned increases in benefits and initiatives. To finance them, they are considering two methods of taxation: increasing business taxation from 21% to 28%, and increasing taxes on high-income taxpayers. One controversial proposal is to impose a minimum income tax of 25% on total income, including unrealized capital gains, for taxpayers with wealth greater than $100 million.

If you're facing crypto tax issues and are worried about potential escalations with the IRS, CryptoTaxAudit can help. We specialize in resolving such tax issues and can provide you with the necessary guidance and support to ensure compliance and peace of mind.

Booking a consultation with us would be a great first step towards addressing your concerns. Visit CryptoTaxAudit.com to schedule your consultation 👉https://www.cryptotaxaudit.com/crypto-tax-consultation

Don't delay—securing expert help now can safeguard against legal troubles later.

CryptoTaxAudit is the ultimate solution for ensuring your crypto taxes are precise and fully compliant with the latest regulations. With expert guidance and support, you can avoid costly penalties and enjoy complete peace of mind. Don't take any chances with your hard-earned assets. Become an IRS Guard Dog member today and take control of your financial future!

Learn More 👉 https://www.cryptotaxaudit.com/about

Join our community 👉 https://linktr.ee/cryptotaxfixer

Thank you for your support. Please check out our other videos. Like, share, and subscribe!

Disclaimer

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.