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What Happens If a Trader Fails to Report a Crypto Transaction?

Failure to report crypto transactions risks IRS audit, back taxes, interest, and penalties for substantial understatement.
Greeks.Live21.11.25

What Happens If a Trader Fails to Report a Crypto Transaction?

Failing to report a crypto transaction can lead to an audit, back taxes, interest charges, and penalties, including the penalty for substantial understatement of income tax. The IRS receives information from exchanges and is actively using data analysis to identify non-compliant taxpayers.

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