Operation Choke Point 2.0: Is the IRS About to Join the Fight Against Crypto?

Clinton raises the possibility that recent regulatory actions against the crypto industry could be part of a larger plan to regulate or even kill off crypto investing in America. He discusses the IRS treating cryptocurrencies as securities under tax law, which would be consistent with the SEC's current enforcement of securities law on cryptocurrencies. Clinton also presents several potential impacts including the loss of tax deductions, higher taxes, and the discouragement of crypto investors.

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

🔥 Do your crypto taxes right with CryptoTaxAudit
👉 https://www.cryptotaxaudit.com

▬▬▬▬▬ TIMESTAMPS ▬▬▬▬▬
00:00:00 Intro
00:00:31 Lack of crypto regulations and enforcement actions by SEC/Federal Reserve
00:01:12 IRS potentially treating crypto as securities under tax law
00:02:12 Cryptocurrencies could be considered corporations under tax law
00:03:33 Implications of taxing crypto like stocks, including wash sale and PFIC rules
00:05:15 Discussion on PFIC tax's impact on crypto investors
00:06:13 Questioning if IRS is part of Operation Choke Point
00:09:42 Our Sponsor: CryptoTaxAudit

▬▬▬▬▬ FOLLOW ▬▬▬▬▬

🗞️ Sign up and follow for real-world strategies, time-tested tactics, and expert discussions with influencers about cryptos, taxes, audits, and the evolving crypto regulatory framework.
The Clinton Donnelly Show 👉 http://TheClintonDonnellyShow.com

🎙 Podcasts
Spotify 👉 https://open.spotify.com/show/22DBssztETdUXThh7OdG2g
iHeart 👉 https://www.iheart.com/podcast/269-the-clinton-donnelly-show-110015880
Amazon 👉 https://music.amazon.com/podcasts/2ef82f69-4e04-4e41-a737-39bb736a1971/the-clinton-donnelly-show
Google Podcasts 👉
https://podcasts.google.com/feed/aHR0cHM6Ly9hbmNob3IuZm0vcy9kYTNkZGM2MC9wb2RjYXN0L3Jzcw
Stitcher 👉
https://www.stitcher.com/show/the-clinton-donnelly-show
Apple Podcasts 👉
https://podcasts.apple.com/us/podcast/the-clinton-donnelly-show/id1679599755
Pandora 👉
https://www.pandora.com/podcast/the-clinton-donnelly-show/PC:1001063413

🎥 Videos
YouTube 👉 https://www.youtube.com/@TheClintonDonnellyShow
Rumble 👉 https://rumble.com/c/c-2132000

📣 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

▬▬▬▬▬ NOTICE ▬▬▬▬▬

⚠️ 𝗕𝗘𝗪𝗔𝗥𝗘 𝗢𝗙 𝗦𝗖𝗔𝗠𝗠𝗘𝗥𝗦 𝗜𝗡 𝗢𝗨𝗥 𝗖𝗢𝗠𝗠𝗘𝗡𝗧𝗦 𝗔𝗡𝗗 𝗖𝗢𝗠𝗠𝗨𝗡𝗜𝗧𝗬 𝗖𝗛𝗔𝗡𝗡𝗘𝗟𝗦
We will never ask you for your personal information on social media. Beware of people masquerading as our host, guests, or sponsor company.

📜 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.

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

#cryptoregulation #cryptotaxation #IRSandCrypto #DAOs #PFICtax #cryptoinvesting
#SECenforcement #cryptoexchanges #OperationChokePoint2.0 #standupforcryptorights