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The "crime" might be you made a modest profit on some crypto and "forgot" to report it to the IRS.
by jmnicolas 5y ago
The "crime" might be you made a modest profit on some crypto and "forgot" to report it to the IRS.
- dboreham 5y agoThat's a non-air-quotes crime. But the statute of limitations is 10 years.
- quartz 5y agoFor a modest unreported profit, assuming you converted it back to USD at an exchange that reports to the IRS, you'll probably get a CP2000 in the mail many years later with your recalculated back taxes (probably assuming a $0 cost basis that you'll have to provide records to dispute) + interest.
- davidgerard 5y agoyes, that is indeed a crime, and not a "crime".