Tax resolution attorney John Willis, CEO and founder of IRSALLSTAR tells readers there are no more excuses allowed or claims of ignorance around cryptocurrencies and taxes.
Fairhope, AL, August 13, 2019: Tax Attorney John Willis, CEO and founder of IRSALLSTAR.com, recently published a blog on his website entitled “The IRS Is Making One Thing Crypto-Clear,” in which Mr. Willis tells his readers not “to mess with the IRS.”
“If you currently have or have had a cryptocurrency account and invest in, trade in or otherwise do business in cryptocurrencies,” Willis writes, “you must report that activity to the IRS.” He continues, “By the end of August, 10,000 U.S. taxpayers who have been shown to have cryptocurrency accounts will have received a letter from the IRS, educating them on the tax responsibilities and the various penalties associated with not reporting those accounts and income.”
According to Willis, “If you are among the 10,000 recipients of an IRS Cryptocurrency Education letter, you’ll be best served if you pay tax liabilities and interest expenses, and then seek abatement of penalties when assessed.” He further states, “As Forbes.com recently stated in an article, “Some crypto users might try to claim ignorance or argue they received terrible tax advice. Others might assert that the crypto tax rules were too vague and uncertain at the time of filing. Some tax treatment issues are still unknown, but the basics are clear. After receiving these education letters, which are warning shots, there are no grounds for continued non-compliance.”
Willis emphasizes, “Don’t mess around with the IRS. If you are involved with cryptocurrencies, it’s a good idea to take this opportunity to get fully educated, review your reporting, and be sure you are tax compliant. You don’t want to go down in the IRS records as a tax evader.”
The entire blog can be read at: http://www.irsallstar.com/blog/the-irs-is-making-one-thing-crypto-clear.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 19 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.