Can the IRS Track Bitcoin? Koinly Explains
The IRS might not be the best at keeping ahead of the crypto curve, but if you think you can hide your Bitcoin gains – think again. Crypto tax calculator Koinly is here to explain just how the IRS can track your crypto.
For a long time, the IRS largely ignored the crypto market, leading many crypto investors to mistakenly believe they could underreport or outright avoid crypto taxes. But they’re paying attention now and they’ve made it perfectly clear your crypto is subject to Capital Gains Tax or Income Tax.
You need to report your crypto taxes as part of your annual tax return – and the tax deadline is looming. You’ve got until the 18th of April 2022 to file.
Thinking you’ll risk it? After all, how could the IRS possibly know about all your crypto, right?
Think again. Crypto tax calculator Koinly is here to explain how the IRS tracks your crypto.
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