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.

What Happens If a Trader Fails to Meet a Margin Call Deadline?
What Is the Current IRS Guidance on the Tax Classification of Cryptocurrency?
What Are the Penalties for an Exchange Failing to File a Required SAR?
Does the IRS Explicitly State That Crypto Futures Fall under Section 1256?
What Regulatory Penalties Can Be Imposed for Proven Market Manipulation on ICE Platforms?
What Are the Potential Penalties for Selling Unregistered Securities?
Give an Example of a Common Bilateral Derivative That Might Transition to Central Clearing
What Is the Penalty for Not Correctly Reporting a Wash Sale?

Glossar