Chandan Lodha, the cofounder and CEO of CoinTracker, talks in regards to the 10,000 letters the IRS despatched to cryptocurrency holders final week, what sorts of letters had been despatched, what recipients ought to do relying on what kind of letter they obtained and the way the IRS even knew who to put in writing to within the first place. Plus, we focus on which sorts of transactions are taxable occasions, the place the tax legal guidelines nonetheless want additional clarification, and which sorts of modifications he believes must be made to tax legislation.

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Episode hyperlinks:

CoinTracker: https://www.cointracker.io/

Chandan Lodha: https://mobile.twitter.com/cglodha

IRS sending letters to 10,000 crypto holders:

https://www.wsj.com/articles/irs-sending-warning-letters-to-more-than-10-000-cryptocurrency-holders-11564159523

https://blog.cointracker.io/irs-sends-letter-6173-6174-6174-a-cryptocurrency-warnings-what-to-do/

https://www.forbes.com/sites/kellyphillipserb/2019/07/26/irs-sending-warning-letters-to-more-than-10000-taxpayers-about-cryptocurrency-reporting/#553158e35d3b

IRS press launch: https://www.irs.gov/newsroom/irs-has-begun-sending-letters-to-virtual-currency-owners-advising-them-to-pay-back-taxes-file-amended-returns-part-of-agencys-larger-efforts

CoinTracker information to submitting crypto taxes: https://www.cointracker.io/bitcoin-taxes



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