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How to Beat the Crypto Tax Crisis with Clinton Donnelly

Originally aired on March 17, 2023

Clinton Donnelly, a crypto tax CPA, returns to the Bad Crypto Podcast to discuss two major developments regarding the crypto tax crisis. Firstly, Congress approved the infrastructure act, which earmarked $46 billion for tax enforcement on digital asset owners. Secondly, many crypto owners are not reporting their income on their tax returns, and Donnelly recommends using his audit defense service to resolve this issue.

How is Congress weaponizing the IRS against American citizens and crypto owners?

  • The infrastructure act earmarked $46 billion for tax enforcement on digital asset owners.
  • The IRS commissioner previously said that the IRS could bring in one trillion more if given the money for enforcement.
  • Many crypto owners are not reporting their income on their tax returns, and the IRS knows who they are.

Why should crypto owners use the audit defense service?

  • Many crypto owners are not reporting their income on their tax returns.
  • Using the service can resolve the issue and avoid the risk of facing an audit.