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What To Know About Virtual Currency And IRS Audit

By trombleyhanesl | Posted on December 21, 2022

Virtual currency, commonly known as cryptocurrency, has surged in popularity since the IRS began formally tracking virtual currency in 2014. Under IRS rules for virtual currency, cryptocurrency is considered as property, and gains or losses from virtual transactions are to be reported the same as other capital gains or losses. While virtual currency is still […]

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Understanding Tax Evasion And Tax Fraud

By trombleyhanesl | Posted on December 14, 2022

A taxpayer’s worst nightmare is a charge of tax evasion. When a seemingly simple bookkeeping error turns into an audit, investigation, and even a criminal charge of tax evasion or fraud, taxpayers need to know what their options and legal rights are. At the extreme end of the spectrum, individual taxpayers can be charged and […]

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What The IRS Wants You to Know About Virtual Currency

By trombleyhanesl | Posted on December 7, 2022

Virtual currency is a relatively new phenomenon that users are still learning the rules for. One agency that has already taken a strong interest and developed its own rules for digital assets is the Internal Revenue Services. The IRS reminds users of cryptocurrency and digital assets that profits received through these methods are taxable, just […]

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