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Cryptos Just Collapsed As IRS Deadline Looms
A month ago, the IRS sent letters to thousands of crypto investors to clarify crypto tax filing requirements and, in certain cases, compel them to pay back taxes. As CoinTelegraph reports, those who already received letter 6173, titled “Reporting Virtual Currency Transactions” on July 16 now have less than a week to reply to the IRS. The most serious of the trio of letters that were disseminated (sent alongside letters 6174 and 6174-A), 6173 requires immediate action. If recipients do not respond to this letter in time, their tax accounts will be audited by the IRS. Recipients are required to respond to this ... (full story)
