• IRS crypto traders tax bills
    Cryptocurrencies,  Regulation

    IRS sending crypto traders tax bills they don’t owe

    In many cases, the IRS has been treating every trade as gross income, regardless of gains or losses, according to CryptoTrader.tax

    On Nov. 23, the firm reported one its users received a worrying notice from the IRS. The document in question was a CP2000 Notice claiming that he had underreported his 2018 income to the tune of $250,000 by failing to include his cryptocurrency investing activity on his taxes.