Although Forms 1099-B are not yet required to be issued by cryptocurrency exchanges (like Coinbase, Crypto.com, and FTX), the IRS is not waiting to get information about cryptocurrency transactions. One of the weapons the IRS...
Category: Blog
An IRS Problem that Money May Not Solve
August 16, 2022
IRS Checklist: Increased 2022-2023 fiscal year funding? Check. $80 billion bonus over 10 years? Check. Lose potentially two-thirds of your workforce over the next six years? Umm… Check. That is neither a typo nor...
With the IRS poised to receive a legislative windfall of $80 billion over the next 10 years, the IRS’ directive is clear: audit higher-income taxpayers only. In an August 10, 2022 letter to IRS Commissioner Charles Rettig,...
The IRS has seemingly endless curiosity when it comes to cryptocurrency and other digital assets. For tax year 2022, the IRS seeks to expand Form 1040 reporting to require disclosure of all inward and outward transfers of...
AICPA Makes Recommendations to the IRS About Transparency, Communications and Backlog
July 28, 2022
By Joel N. Crouch, Blog
My colleague, Michael Villa, wrote a blog post last month about issues with contacting the IRS, which most tax practitioners and many taxpayers have been dealing with for the last couple of years as the IRS tries to recover...