Virtual Currency

Virtual Currency and the IRS!

The IRS has stepped up enforcement on Virtual Currency! It's being treated as an investment.

Even if you never got a 1099-B at the end of the tax year, it still needs to be reported. Most Virtual Currency Exchanges do not issue the form needed by you to report the activity you had during the tax year.

To get this data varies from exchanges and if your activity was many, this may take some time to compile.

Not sure? Contact McCool's Tax Service for a free consultation to go over your activity and to put your mind at ease!