The IRS Is Now Sending Letters To Try And Scare And Trick People Into Responding Or Reporting Cryptos When They Are Not Reportable. It\u2019s A Form Letter, Form 6174 Titled \u201cReporting Virtual Currency Transactions\u201d. This Is Nothing But A Sales Letter.<\/p>
It Begins With, \u201cWe Have Information That You Have Or Had One Or More Accounts Containing Virtual Currency\u2026\u201d. This Is A Lie; If The IRS Received Such Information You Would Have Received A 1099, A Copy Of The One Reported To The IRS.<\/p>
It Goes On To Say \u201c\u2026 If You Believe You Didn\u2019t Accurately Report Your Virtual Currency \u2026 You Should File Amended Returns\u2026\u201d<\/p>
You Don\u2019t Have To Read Any Further Because This Letter Requires NO Response Whatsoever And If You Want To Discuss It With Your Accountant, He Or She Will Try And Scare You Into Reporting Something That Is Not Subject To Reporting At All. If You Get This Letter, Ignore It. The Only Communication That Is Important Is The 1099 Form, And We\u2019ve Already Proven The Correct Response To The Erroneous 1099 Reports In The December 2018 Article Further Back In This Blog.<\/p>","protected":false},"excerpt":{"rendered":"
The IRS Is Now Sending Letters To Try And Scare And Trick People Into Responding Or Reporting Cryptos When They Are Not Reportable. It\u2019s A Form Letter, Form 6174 Titled \u201cReporting Virtual Currency Transactions\u201d. This Is Nothing But A Sales Letter. It Begins With, \u201cWe Have Information That You Have Or Had One Or More […]<\/p>\n","protected":false},"author":131,"featured_media":7888,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[124],"tags":[],"class_list":["post-7887","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"_links":{"self":[{"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/posts\/7887","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/users\/131"}],"replies":[{"embeddable":true,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/comments?post=7887"}],"version-history":[{"count":0,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/posts\/7887\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/media\/7888"}],"wp:attachment":[{"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/media?parent=7887"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/categories?post=7887"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/tags?post=7887"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}