Tuesday, April 17 is tax day in the United States of America – but early numbers are suggesting cryptocurrency investors aren’t being entirely upfront with the government’s tax collectors.
Our Little Secret
Nobody likes doing their taxes, especially now that reporting profitable cryptocurrency trades is required by law. Going through a years’ worth of trades and reporting profits is time-consuming and complicated — and it’s not being done.
According to the Internal Revenue Service, fewer than 100 of the last 250,000 tax filers have reported capital gains investments from cryptocurrency holdings as of April 13. No matter which way you look at it, that’s a shockingly low number.
