if you are there 16% of Americans who transacted or traded cryptocurrencies last year missed their tax filing deadline (which is Monday, April 18). And if you’re an NFT fan who changed your Twitter profile picture to a hexagonal picture of a regular monkey, chances are you’ll need some professional advice when submitting.
The US Internal Revenue Service can fully investigate and possibly even vet people who have transacted with virtual currencies this year, said Alex Roitenberg of Twitter fame. @TheNFTCPAVanity told Kipa.
“Personally, I think the IRS has been looking forward to a big year of wealth and revenue, and 2021 has definitely been that year,” Roitenberg said.
He added that due to the lack of official guidance from US regulators on how to file taxes on various crypto products, the process requires taxpayers to clarify that existing laws governing traditional assets are not fully implemented. How they can be applied to new technologies? ,
Roitenberg, a Chartered Accountant, has been a tax accountant for almost 20 years, having worked at Morgan Stanley, Goldman Sachs and PwC. Reitenberg first encountered the Web3 space in 2018 after advising several Coinbase employees, and has since attempted to double that, co-authoring The NFT Tax Guide and speaking at industry talks. nft.nyc.
While Roitenberg advises crypto traders to seek professional one-on-one tax advice to clear any gray areas, he shared with gaming-updates his thoughts on some of the cryptocurrency tax preparation packages due this year. .
Here is an overview of some of the more popular platforms available today for cryptocurrency taxpayers.