Crypto Tax Compliance Miami

If you have received a CP2501 Notice, it means the details reported to the IRS by third parties do not align with what you stated on your tax return. Regarding crypto, this often indicates that one of your exchanges reported your information to the IRS, which you failed to include in your tax submission.

Notice CP2501 does not specify the tax amount the IRS believes you owe, but if not addressed promptly, it may lead to a Notice of Deficiency.

Responding swiftly to your CP2501 Notice is crucial for achieving a favorable outcome.

If you have received this type of IRS cryptocurrency notice, do not delay. Contact us for expert assistance from our experienced tax attorneys!

If you receive a CP2000 notice, get in touch with our crypto tax lawyers without delay. Unlike other IRS cryptocurrency letters, the CP2000 specifies the amount the IRS estimates you owe, including interest and penalties.

The upside? For cryptocurrency investors, that figure is usually significantly overstated. We can assist you in responding to this notice and, generally, demonstrate that you owe considerably less. We've even had clients whose losses resulted in a refund!

However, you must act quickly before the proposed liability becomes final and the IRS initiates collection actions.

The IRS crypto letter CP2000 includes a response deadline. If you fail to respond promptly, the IRS's proposed sum becomes final. It becomes progressively challenging (and costly) to oppose this notice past the deadline. Not to alarm you, but once a tax balance has been determined, the IRS can employ various methods to enforce collection, such as wage garnishment, asset levies, and filing a lien against your property.

Reach out to us today to resolve this issue at its onset!

Have you received IRS Letter 6323? This suggests that a tax audit is imminent, and your cryptocurrency holdings could complicate the proceedings. Though Crypto Tax Compliance Miami has been practicing cryptocurrency tax law since 2014, many tax professionals—including IRS audit examiners—are still struggling with the intricacies of this evolving field.

Understand more about cryptocurrency audits and how we can assist, or contact our tax attorneys today for a confidential consultation. We've assisted hundreds of clients in navigating complex audits!

If you receive Notice CP90 from the IRS, do not waste time; immediately call our tax attorneys at (847) 580-1279 to prevent the IRS from seizing your possessions!

This is the final warning before the IRS executes extreme collection measures for unpaid tax liabilities (including cryptocurrency-related obligations). Ignoring the letter could result in the IRS placing a lien on your home or vehicle; reaching out to your employer for wage garnishment; lawfully taking control of your crypto assets; or even withdrawing funds directly from your bank account.

However, it is not too late to avert these worst-case scenarios. If you have received this IRS cryptocurrency letter, get in touch with our experienced lawyers immediately and we will guide you through the Due Collections Process to tackle the problem. Let's transform that impending tax burden into a relic of the past!

Many crypto investors might receive a CP518 Notice due to unsubmitted tax returns. Failing to act often results in the IRS preparing a return on your behalf with accessible data, known as a Substitute For Return.

For crypto traders, that generally spells bad news: Information reported to the IRS by third-party sources tends to exaggerate your capital gains, inflating your tax bill.

If you receive IRS Letter CP518 and require assistance with accurate tax return filings—including a comprehensive crypto tax report to verify the correct amount of capital gains—reach out to the seasoned tax lawyers at Crypto Tax Compliance Miami!

Letter 6174 and 6174-A

If you've received Letter 6174 or 6174-A and aren't completely confident you've fulfilled your filing duties, it would be prudent to amend prior tax returns and appropriately document your cryptocurrency in the future.

These IRS cryptocurrency letters serve as soft notices to suspected virtual currency investors. Letters 6174 and 6174-A reflect the IRS's belief that you possess unreported cryptocurrency activities. These letters do not demand a reply, but they do signal that the IRS is monitoring your activities.

Desire to discuss your IRS risk with a cryptocurrency tax lawyer? Call us at (847) 580-1279 for a confidential consultation!

Letter 6173

The IRS mandates a response to Letter 6173. This alert reveals the IRS's suspicion that you have underreported cryptocurrency on your tax returns. It also states that non-response may lead to an examination (indicating a cryptocurrency tax audit).

If you receive IRS Letter 6173, reach out to our crypto tax attorneys immediately. We’ll act quickly to correct any reporting mistakes and get you compliant before the IRS escalates to an audit!