Cryptocurrency Questions? Get Tax Compliance Answers Now
Don’t feel alone if you’re dealing with questions about reporting virtual currency transactions.
Defend tax audits and respond to IRS Letters 6173, 6174, and 6174-A
Ensure accurate reporting and resolve failures to file or pay taxes
Advice on international crypto, offshore accounts, and compliance
Shield your rights and investments during investigations and charges
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If you need help with cryptocurrency tax compliance and how to report your transactions, talk with dual-licensed tax attorneys and CPAs to safeguard your investments.
Frost Law, led by Glen Frost (Esq., CPA, CFP®, and LLM in taxation), has helped clients from around the world resolve complex tax problems involving the Internal Revenue Service (IRS) and state governments.
Know your obligations and trust that the cryptocurrency tax attorneys at Frost can help you navigate through the toughest tax problems.
Call (443) 545-3023 or fill out our brief form for a confidential consultation and get the answers you need now.
Cryptocurrency Tax Audits: IRS Letter 6173, IRS Letter 6174, & IRS Letter 6174-A
The IRS recently sent notices to coinbase members and other individuals holding virtual investments. The letters sent by the IRS included:
- IRS Letter 6173: Notice that requests a response from the taxpayer about alleged noncompliance.
- IRS Letter 6174: Notice that requests taxpayer review their return and, if necessary, file an amended return
- IRS Letter 6174-A: Notice that there is a potential misreporting of virtual currency transactions and IRS may follow-up with enforcement actions
These cryptocurrency audits are targeted at individuals who have owned bitcoin (BTC), ethereum (ETH), litecoin (LTC), ripple (XRP), Zcash (ZEC), darkcoin/dash (Dash), and more.
If you believe you’re a target of a cryptocurrency tax investigation from the IRS, then you should immediately contact a tax attorney before disclosing anything to the government.
Cryptocurrency compliance investigations may also turn into larger, criminal tax investigations. These situations can be a massive intrusion into your personal and professional life and your accountant could be compelled to tell the IRS everything you’ve told him or her because the “accountant-client privilege” does not extend to criminal investigations or state tax proceedings.
However, the “attorney-client privilege” can help shield you while preparing your defense. The government cannot compel the testimony of confidential communications between you and your tax attorney so long as the attorney was not involved in the matters leading up to the government’s criminal tax investigation.
Let Frost Law Help
Get the answers you need from highly-trained tax attorneys who can help you quickly navigate through your cryptocurrency tax issues and get you the best result possible.
The Maryland tax defense team at Frost Law can help with common problems such as:
- Cryptocurrency reporting & compliance
- Tax evasion & tax fraud
- Failure to file, collect, or pay taxes
- Submitting false statements & false documents
- Conspiracy or aiding and abetting tax violations
- Undisclosed offshore accounts & other international tax problems
Let the team of skilled tax attorneys & CPAs at Frost Law clear the confusion. The firm’s cryptocurrency experience and financial acumen have enabled them to help many others living in Maryland who were going through circumstances just like yours.
Learn more during an initial consultation and get the answers you need.
Call (443) 545-3023 or fill out our brief form for a confidential consultation.
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Yes. We maintain strict confidentiality during your preliminary consultation. Should you retain our services, your information will be further safeguarded under the attorney-client privilege.
We can't promise a specific result. What we can do is provide advice regarding the merits of your case based on relevant laws and our own history. Please keep in mind that, as cases do differ, past performance does not guarantee future results.
The timeline for legal processes can vary. Cases may take several years of litigation or get settled within a few days. Some situations can be resolved by submitting a form or two. We will discuss this during our initial consultation. Rest assured that our goal is to shoulder the legal burden whenever possible, allowing you to focus on your daily life.
You will get regular updates on your case, particularly when it reaches specific legal milestones. If you have questions, our team is always a quick phone call or email away.
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