Welcome to the third episode of our multi-part series on crypto taxation.
If you missed, or haven’t yet listened to our first two episodes, we covered the basics of crypto taxation, what is, and what isn’t taxable. Then, we explored like-kind, 1099s, and how to handle margin trading, staking, loans, and NFTs on your taxes.
Today’s episode covers all things cryptocurrency audit. Alex Kugelman, a cryptocurrency tax controversy lawyer, joins us to discuss the ins and outs of cryptocurrency audits, how to avoid them, and how to successfully navigate a crypto audit if you do find yourself as a target of the IRS.
Episode link: https://talk.bitcoin.tax/crypto-audit-irs/
Timestamps
(02:04): The causes and triggers of a cryptocurrency audit
(06:36): What to expect in a cryptocurrency audit
(18:25): Is the IRS treating transfers as taxable events?
(47:30): How lenient is the IRS with their payment plans?