According to the report, just under 100 people have reported these taxable events to the IRS out of the 250,000 most recent tax filers, just 4 days ahead of the deadline to file.
- Two North Carolina tax preparers are headed to prison after admitting they filled out hundreds of fake tax returns involving more than half a million dollars.
So, the deadline to file your taxes is now Tuesday, April 17th.
You're probably wondering about this basic question: How can I file for an extension?
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For the 2015 tax year, the IRS indicated that only 802 people had included cryptocurrency gains or losses in their tax filings. They say they will not initially contact you through email, text, social media or the phone. "This penalty is larger than for not paying any balance due", advised Gil Charney, director at The Tax Institute at H&R Block. Mark Jaeger, director of tax development at TaxAct, said that some taxpayers are shareholders or partners in a business and are still waiting to receive their Schedule K-1 form.
Per the IRS, there are more than 90,000 volunteers around the country, who can help you correctly complete your return. However, they're more than happy to hang on to the money they owe you if you don't.
You can submit the form electronically through the IRS website before midnight on April 17.
One scam is a robotic voice that uses incorrect English, which calls threatening consumers, telling them that they have a debt with the IRS and will be taken under custody by local authorities. Then, subtract this year's withholdings and estimated payments you made over the course of the year, and send the difference to the IRS this year.