Form 1099-DA is live. The reporting era has started.
The IRS already has your exchange records.
Coinbase, Kraken, Binance.US - they all report now, and John Doe summonses reached back years before that. If your crypto gains never made it onto a return, the question is not whether the IRS finds out. It is what you do before they act.
Crypto tax debt is not ordinary tax debt.
01
The gain was real. The money may be gone.
You owe tax on the price at the moment you sold or swapped, even if the market collapsed afterward. Six-figure bills on vanished profits are the most common crypto case I see.
02
Every swap was a taxable event.
Trading one coin for another, spending crypto, earning staking rewards - each one hits the return. Most traders have hundreds of events they never knew were reportable.
03
The IRS can levy your wallet.
Exchange-held crypto can be seized like a bank account, and the IRS has done it. The collection playbook still has rules, deadlines, and defenses - if you use them in time.
Start here
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The IRS moves faster on crypto cases than you think.
One call tells you where you stand and what it takes to fix it. No pressure, no runaround.
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