The article has been automatically translated into English by Google Translate from Russian and has not been edited.
Переклад цього матеріалу українською мовою з російської було автоматично здійснено сервісом Google Translate, без подальшого редагування тексту.
Bu məqalə Google Translate servisi vasitəsi ilə avtomatik olaraq rus dilindən azərbaycan dilinə tərcümə olunmuşdur. Bundan sonra mətn redaktə edilməmişdir.

IRS Sends Notices of Debts to People Who Don't Have Debt

Cryptocurrency traders receive letters from the Internal Revenue Service (IRS) that mistakenly say they owe thousands of dollars in taxes due to inconsistencies in tax forms. The publication told more about this. Fox News.

Photo: Shutterstock, a cryptocurrency tax calculator and software company, reported on its blog that it was contacted by "dozens of people" who received emails informing taxpayers that their income information elsewhere did not match the income reported in tax returns.

One of the traders received a letter that he owed $ 127 in taxes and penalties for understating his income due to the fact that he did not indicate his investment in cryptocurrency on his tax returns.

On the subject: If you have tax debt, wait for an IRS agent to visit

“The reason this taxpayer received the letter (CP2000) is because Coinbase sent IRS 1099-K detailing its $ 292 worth of crypto activity,” the website explained and advised those who received similar emails from the IRS , notify your tax advisors.

The IRS advised that every time it receives 1099-K reports from third parties, it tries to match the reports to individual tax returns. In the event of a discrepancy, the IRS sends letters to CP2000 so that taxpayers have the opportunity to respond and understand the situation.

You may be interested in: top New York news, stories of our immigrants and helpful tips about life in the Big Apple - read it all on ForumDaily New York.

“There could be inconsistencies,” said IRS spokesman Eric Smith. - We do contact people about these inconsistencies. They have the opportunity to answer us. "

“The 1099-K was never intended as a form for cryptocurrency traders to report their earnings,” says the CryptoTrader blog post. "The form doesn't make sense in the context of a cryptocurrency exchange, and yet, many well-known exchanges, such as Coinbase, have decided that they will use 1099-K to communicate customer income information."

Read also on ForumDaily:

If you have tax debt, wait for an IRS agent to visit

Fraudsters Send 'IRS Emails' Indistinguishable from Real: What You Need to Know

A new tax will appear in California: who will it affect

IRS offers new tax credits and deferrals for the duration of the pandemic

IRS publishes tax rates and categories for 2021: what has changed

In the U.S. taxes letters IRS
Subscribe to ForumDaily on Google News

Do you want more important and interesting news about life in the USA and immigration to America? Subscribe to our page in Facebook. Choose the "Display Priority" option and read us first. Also, don't forget to subscribe to our РєР ° РЅР ° Р »РІ Telegram - there are many interesting things. And join thousands of readers ForumDaily Woman и ForumDaily New York - there you will find a lot of interesting and positive information. 

1063 requests in 2,588 seconds.