December 2018 Archives

Countries taking a strict stance on crypto tax evasion

In the past year, bitcoin and other cryptocurrencies gained popularity among investors around the world. Cryptocurrencies exist as virtual tokens that allow investors to electronically transfer assets in a secure way using digital technology. However, they can present a multitude of issues when it comes time to report taxes.

Steps to take after an IRS audit

Those in Maryland or anywhere else who receive an IRS audit notice may feel anxious or scared. The first step that a taxpayer should take is to read the notice to determine what the IRS is asking for. It is also important to note that a person should not automatically assume that he or she owes money to the government. Instead, it may be best to research the situation fully to confirm claims made in the notice.

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