{"id":1698,"date":"2019-08-30T22:17:06","date_gmt":"2019-08-31T03:17:06","guid":{"rendered":"http:\/\/www.nw-cpa.com\/?p=1698"},"modified":"2019-08-20T22:39:17","modified_gmt":"2019-08-21T03:39:17","slug":"paying-taxes-on-crypto-currency","status":"publish","type":"post","link":"https:\/\/www.nw-cpa.com\/?p=1698","title":{"rendered":"Paying Taxes on Crypto Currency?"},"content":{"rendered":"<p style=\"text-align: justify;\"><a href=\"http:\/\/www.nw-cpa.com\/wp-content\/uploads\/2019\/08\/bitcoin-3089728_1280.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-medium wp-image-1699\" src=\"http:\/\/www.nw-cpa.com\/wp-content\/uploads\/2019\/08\/bitcoin-3089728_1280-300x169.jpg\" alt=\"\" width=\"300\" height=\"169\" srcset=\"https:\/\/www.nw-cpa.com\/wp-content\/uploads\/2019\/08\/bitcoin-3089728_1280-300x169.jpg 300w, https:\/\/www.nw-cpa.com\/wp-content\/uploads\/2019\/08\/bitcoin-3089728_1280-768x432.jpg 768w, https:\/\/www.nw-cpa.com\/wp-content\/uploads\/2019\/08\/bitcoin-3089728_1280-1024x576.jpg 1024w, https:\/\/www.nw-cpa.com\/wp-content\/uploads\/2019\/08\/bitcoin-3089728_1280.jpg 1280w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>Do you owe taxes on crypto currency? \u00a0Chances are you&#8217;re safe if you have no idea what that is, although some parents were unaware that their\u00a0high-school and\u00a0college aged children were trading\u00a0in Bitcoin. \u00a0The IRS is currently cracking down on tax evaders with digital holdings through two versions of a warning letter. The first\u00a0implying the tax payer may have no knowledge of these\u00a0accounts, and the second\u00a0enforcing a deadline for recipients to disclose all of their crypto transactions or risk legal recourse. \u00a0<strong><em>Accounting Today<\/em><\/strong> suggests the best ways to handle these\u00a0tax situations based on the type of letter received in the article, <strong><a href=\"https:\/\/www.accountingtoday.com\/articles\/crypto-tax-avoiders-face-irs-roulette-fess-up-or-try-to-hide\">Crypto tax avoiders face IRS roulette: Fess up or try to hide\u00a0<\/a>.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Do you owe taxes on crypto currency? \u00a0Chances are you&#8217;re safe if you have no idea what that is, although some parents were unaware that their\u00a0high-school and\u00a0college aged children were trading\u00a0in Bitcoin. \u00a0The IRS is currently cracking down on tax evaders with digital holdings through two versions of a warning letter. The first\u00a0implying the tax &hellip; <a href=\"https:\/\/www.nw-cpa.com\/?p=1698\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Paying Taxes on Crypto Currency?<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[1112,1301,1304,1303,69,1305,201,1302],"class_list":["post-1698","post","type-post","status-publish","format-standard","hentry","category-federal-income-tax","tag-bitcoin","tag-crypto-currency","tag-delinquent-return","tag-filing-an-amended-return","tag-irs","tag-off-shore-accounts","tag-taxes","tag-taxes-on-crypto-currency"],"_links":{"self":[{"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=\/wp\/v2\/posts\/1698","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1698"}],"version-history":[{"count":1,"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=\/wp\/v2\/posts\/1698\/revisions"}],"predecessor-version":[{"id":1700,"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=\/wp\/v2\/posts\/1698\/revisions\/1700"}],"wp:attachment":[{"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1698"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1698"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1698"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}