If you haven’t reported your crypto income on your return in the past and you’re afraid to start now, do this. Sign up for an Audit Defense membership. Then schedule an Audit Risk Assessment Consultation from the membership dashboard.
Dmitri of Massachusetts never filed returns on crypto income for 2017 - 2019. An IRS Revenue Officer started demanding the returns. Using an advanced tax treatment, we avoided $202,000 of taxes. He only paid $56,000 in taxes for the three years. He avoided jail and liens.
Who will prepare your return?
There is a scarcity of tax professionals who understand cryptocurrencies and how to report the crypto income on a tax return. What are your options?
Self-preparation: We encourage self-preparation. We offer a free self-learn course on how to report your crypto income. Those completing the course can schedule a video consultation with one of our tax preparers to review your return and answer questions.
Using a tax professional: Tax professionals come with various levels of certified expertise such as CPAs or Enrolled Agents (EAs). Many tax professionals are not certified, so use discretion. If you provide the crypto gain and income amounts to be reported, you will be helping your tax professional immensely.
Using CryptoTaxAudit: Since 2018, we have specialized in calculating crypto gains and preparing complex tax returns for crypto investors. Our services now are limited to select, large traders who are Audit Defense members
Todd of New Jersey used H&R Block to file his return. His return got stuck in IRS “limbo”. H&R wouldn’t help. As an Audit Defense member, we escalated IRS management so he could get a refund of $9,028 for no additional charge.
Individual Tax Return Preparation
We accept select, large clients who are looking to build a long-term tax preparation relationship.
We prepare the IRS Form 1040, all schedules, disclosure statements, anti-money laundering forms (FBAR & 8938), and state tax returns.
Audit Defense is affordable and helps you sleep better at night.
We recommend an Audit Defense membership for all crypto investors as a more economical way to protect yourself from the IRS regardless of who prepares your tax return and calculates your gains.
Most people feel they will be safe from the IRS if they accurately report all their income.
However, for crypto investors, this is rarely possible. The gain calculation is very complex. Tax preparers often report crypto income incorrectly. Crypto exchanges are sending inaccurate tax reports to the IRS causing extra audits.
Rather than spending $2,000 - $10,000 calculating a single year’s results that will still be inaccurate, consider buying an Audit Defense membership for $249/month ($2,795/year). An Audit Defense membership protects you for any tax year the IRS audits. We’ll recalculate the gain and amend a return for no additional charge. It doesn’t matter who prepared the original return or did the gain calculation.
