Welcome to our Cryptocurrency Tax Practice, where we specialize in guiding individuals and businesses through cryptocurrency taxation. At Housh Tax Law, we understand the challenges posed by the unique nature of digital assets and the ever-evolving regulatory landscape. Whether you are mining or investing, have NFTs or cryptocurrencies, or hold your assets in a wallet or an exchange, we are equipped to provide comprehensive solutions. We have provided representation, ranging from tax audit defense to preparing tax opinion letters and forming strategic holding companies. With a keen focus on addressing cryptocurrency tax problems and offering proactive tax planning, we are your partners in cryptocurrency tax compliance and problem-solving.
A tax audit involving cryptocurrency can give rise to a myriad of intricate issues that demand specialized expertise to navigate. The evolving nature of digital assets, coupled with the complexity of tax regulations, can lead to uncertainties in determining accurate valuations, establishing taxable events, and ensuring comprehensive record-keeping. Additionally, the lack of comprehensive IRS guidelines for various cryptocurrency-related scenarios can result in ambiguities, increasing the risk of unintentional non-compliance. We are well-versed in cryptocurrency taxation and offer strategic solutions.
Our tax law firm specializes in offering expert guidance and representation to taxpayers who find themselves facing a John Doe summons from the IRS related to their cryptocurrency exchanges. A John Doe summons is a unique legal instrument used by the IRS to identify individuals engaged in potentially non-compliant activities within a specific group, such as cryptocurrency traders on a particular exchange. Our seasoned team possesses an in-depth understanding of both the intricacies of cryptocurrency transactions and the legal aspects of tax compliance. With a proven track record in complex cases, we stand ready to provide strategic counsel, robust representation, and meticulous analysis to protect our client’s rights and interests.
We specialize in forming holding companies that enhance your cryptocurrency operations’ efficiency and minimize tax liabilities. We find a strategic business entity advisable in certain circumstances. For instance, when a pool of investors is purchasing specific NFTs or investing in cryptocurrencies formalizing the arrangement upfront can avoid miscommunications and disputes as well as offer liability protection and tax deductions that may not otherwise be available to individual investors. The existence of the holding company will also allow a unified reporting of profits or losses on the upcoming IRS form 1099-DA.
We provide clarity and assurance for complex cryptocurrency transactions, bolstering your compliance efforts.
In the complex world of cryptocurrency taxation, we are committed to streamlining your compliance journey and optimizing your tax outcome.
Contact us for a free consultation today.