Tax resolution attorney John Willis, CEO and founder of IRSALLSTAR urges readers to avoid being duped by the craze for cryptocurrencies into thinking the IRS approves of any investment or IRA plan.
Fairhope, AL, February 13, 2018: Tax Attorney John Willis, CEO and founder of IRSALLSTAR.com, recently published a blog on his website entitled “Beware Of Cryptocurrency IRA Scams Advertising IRS Approval,” attempts to steer taxpayers clear of being duped into losing hard earned money.
Willis points out, “Tax season always ushers in a new crop of scams.” He continues adding, “This year a cryptocurrency IRA scam is making headlines. These virtual currencies are the new ‘sexy’ for investors with their values appearing to climb to the stratosphere. The scammers are finding ways to lure less than savvy investors to put their real money in cryptocurrencies, the latest being an IRS approved IRA scam.”
In fact, just a few days ago the U.S. Commodity Futures Trading Commission (CFTC) published a customer advisory warning investors to “be wary of all virtual currency retirement accounts claiming to be IRS-approved or IRA approved.”
It stands to reason as Willis states, “Because taxpayers typically focus on retirement savings at tax time to increase deductions or maximize savings, the criminals play to this with false claims.” According to Willis, “Some are making virtual currencies seem less risky in retirement savings. However, the advisory also added that, “the crypto market had been particularly volatile of late, and investors will not be protected from these wild price fluctuations simply because the cryptocurrencies are held in an IRA. It outlined a variety of risks associated with digital currencies, such as the unregulated nature of the market, the risk of hacks, and the difficulty of retrieving lost or stolen digital assets.”
According to Willis, “The basic message is this: No matter how desperately you are longing to cash in on the cryptocurrency craze, don’t fall for the scam that a particular method is IRS or IRA approved. Keep you money. You earned it. Don’t play into the crafty hand of criminals.”
The entire blog can be read at: http://www.irsallstar.com/blog/beware-of-cryptocurrency-ira-scams-advertising-irs-approval.php
ABOUT JOHN WILLIS
Mr. Willis believes strongly in supporting and representing the “underdog” and has devoted his entire professional life to protecting and defending those who need it most. As an attorney, Mr. Willis takes his role as “counselor” seriously. His knowledge, creativity and persistence are valuable assets that provide substantial benefits to his clients. He has represented individuals and businesses across the Gulf Coast for over 18 years and he brings together an abundance of skills and experience that can be of assistance to almost anyone.
ABOUT THE IRSALLSTAR TEAM
The IRSALLSTAR team has developed a winning formula to ensure that each client’s individual needs are specifically met. Upon becoming a client of Mr. Willis’ law firm, that client’s immediate needs are assessed and long-term goals are defined. Experienced professionals on the IRSALLSTAR team then assist each client in developing and implementing a custom-tailored game plan to provide both short-term and long-term relief from his or her serious tax problems. All firm clients are continually coached toward successful tax resolution and final victory over their challenges with the IRS and state taxing authorities.
To learn more about Mr. Willis and his law firm please visit http://www.IRSALLSTAR.com or call toll-free 877-254-4254.