In the ever-changing world of cryptocurrency, it is hard enough to keep up with all the different crypto coins (such as Bitcoin), wallets, and crypto exchanges, much less trying to figure out what your tax reporting responsibilities are.

At Josh Cahan, CPA, I have a comprehensive crypto tax service to help you not only calculate your gains and losses but also file other additional forms. For those of you that are new to the crypto arena, you may be asking yourself, “How can the IRS even find out where crypto is located?” Good question. The IRS has recently put cryptocurrency on its radar. In February 2018, a court-ordered Coinbase to provide taxpayer ID’s, names, birth dates, addresses, and historical transactions of over 10,000 customers to the IRS. If you do not disclose certain information, you may be fined thousands of dollars.