The rules and regulations surrounding cryptocurrency are complex, but accurate reporting is crucial to avoiding penalties.
Robert W. Wood
Robert W. Wood is a tax lawyer representing clients worldwide from offices at Wood LLP, in San Francisco. He is the author of numerous tax books and writes frequently about taxes for Forbes.com, Tax Notes, and other publications.
- Opinion
Crypto Tax Reporting Failures Can Be Expensive, Even Criminal - Expert Take
Crypto IRS Audits: Hire Professionals or Do it Yourself? The IRS is hunting crypto user identities. If you are audited, should you hire a professional or do it yourself?
- Expert Take
Are Tax Moves to Puerto Rico Worth It for Crypto Holders? Some in the crypto community have embraced Puerto Rico. Could it be the country for you?
- Expert Take
IRS Expands Penalties: Which Tax Mistakes Are Better Not to Commit “Willful” vs. “non-willful” tax flubs with crypto transactions have huge consequences with the IRS.
- Expert Take
IRS Crypto Reporting Letter: A Wake-Up Call No Matter Who Gets One More than 10,000 taxpayers with crypto transactions will receive letters from the IRS by the end of August.
- Expert Take
Avoid State Taxes on Crypto With US Supreme Court’s Recent Trust Decision? It might be possible to have your trust pay the lower corporate tax rate of 21% rather than your individual crypto tax rate.
- Expert Take
Bitcoin Prices Could Make Paying Taxes in Bitcoin Even More Attractive How and why to pay taxes in crypto.
- Expert Take
IRS Offshore Amnesty is Closing, But Crypto Investors Still Have Time: Expert Take After a 10 year run, the OVDP will formally close on September 28, 2018, and some people are rushing to get in.
- Expert Take
Do Crypto Trusts Save Taxes? Expert Take Say ‘Hello’ to crypto trusts.
- Expert Take
Taxes on Restricted Crypto and Options Can Be Confusing: Expert Take How the IRS is going to tax your future income.
- Expert Take
Biggest Crypto Tax Debate Is Not What You Think: Expert Take In fact, the biggest crypto tax debate still seems to be about 1031.
- Expert Take
At Tax Time, Who Really Owns That Crypto Anyway? - Expert Take IRS marks cryptocurrency as property, it might prompt you to consider the concept of ownership.
- Expert Take
Tax-Free Ways to Transfer Bitcoin and Other Crypto: Expert Take You can give cryptocurrency as a gift and it doesn’t trigger income taxes. But the IRS is unlikely to be persuaded unless you document it.
- Expert Take
Paying Tax in Crypto Ironically Triggers More Taxes - Expert Take Every time you transfer crypto into fiat, you might trigger gain or loss.
- Expert Take
How to Guarantee a More Predictable Tax Result Until IRS Has a Special Crypto Amnesty: Expert Blog Although there is not yet an IRS amnesty for Bitcoin and other cryptocurrency taxpayers, there still is one for offshore accounts.
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