IRS Enforcement Methods on Crypto Investors

Welcome to The Clinton Donnelly Show, where Clinton shares real world strategies, time tested tactics, and expert discussions with influencers about cryptos, taxes, audits, and the regulatory framework that’s evolving around cryptos.

Episode
Clinton discusses the IRS enforcement methods used for crypto investors, who are seen as wealthier taxpayers. The IRS received $46 billion in funding from Congress to enforce tax compliance laws for digital asset owners, with a potential to harvest an additional $1 trillion in revenue. The 22 million non-compliant taxpayers are divided into three categories: puny investors, hiders, and deniers. Arm yourself with the information you need to know as a crypto trader or investor before the IRS comes knocking.

✍🏽 Join The Crypto Tax Amnesty Initiative
👉 https://www.cryptotaxamnesty.org

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▬▬▬▬▬ TIMESTAMPS ▬▬▬▬▬
00:00 Introduction
03:16 About the IRS
03:50 Increased IRS funding
04:49 Crypto owners are out of compliance
06:00 The 3 risk categories
07:09 A voluntary tax system
07:40 The 4 enforcement methods
08:39 Criminal investigation
11:01 Whistleblower disclosures
13:00 Expect crypto trader indictments
13:50 Afraid to start reporting?
14:51 Taxes are sexy

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📣 Host: Clinton Donnelly
Twitter 👉 https://twitter.com/CryptoTaxFixer

Clinton Donnelly, LLM, EA, is the president and founder of CryptoTaxAudit. Clinton holds an advanced law degree in international financial planning and taxation. He is an enrolled agent authorized to represent taxpayers before the IRS. Clinton also holds a Certified Cryptoasset Anti-Financial Crime Specialist certification.

▬▬▬▬▬ SPONSOR ▬▬▬▬▬

🐋 Sponsor: CryptoTaxAudit

CryptoTaxAudit, the crypto tax and IRS audit experts, sponsored this episode.

Founded in 2015, CryptoTaxAudit is a full-service tax preparation, crypto calculation, and audit defense company. Clinton Donnelly founded the company and currently serves as its president. Clinton has assembled an experienced team of crypto tax experts, including CPAs, enrolled agents, forensic accountants, and gain calculation analysts. The company’s crypto experts deliver personalized services to help clients get into compliance, develop their tax strategies, and receive professional representation before the IRS.

CryptoTaxAudit protects its clients with Audit Defense, its flagship membership service. Audit Defense membership counters the growing cost of defense against the IRS by providing a cost-effective option for crypto traders and investors.

Visit 👉 https://CryptoTaxAudit.com

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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.

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