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Crypto and Taxes in 2026: The IRS Is Not Waiting for You to Come Clean
Many do not report cryptocurrency transactions on their tax return. How risky is this in 2026? I anticipate that this will be the fastest growing area of my tax problem representation practice over the next few years. This year alone, the IRS will receive data reports on 8 billion cryptocurrency transactions. At the same time,…
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Frustrated with tax prep?
Many tax preparers are understandably frustrated with where the industry is headed. Most outlooks suggest the number of tax firms and practitioners will continue to shrink over the coming years. Today, I spent time coaching a new tax preparer who is just entering the profession. I expect he’ll do well because he’s focused on a…
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How to Cope With IRS Collapse
“Backlogs, Job Holes Plague IRS in Tax Season After DOGE Cuts” “Trump’s promise to modernize the IRS hasn’t materialized.” “We’re just not able to provide timely service to people” These were just three of the points Bloomberg Tax reported yesterday on the dismal state of the IRS. It is more important than ever before for…