Problems We Solve

Cryptocurrency Tax Problems

The IRS spent years watching crypto from the sidelines. That era is over.

They've built enforcement teams. They've issued John Doe summonses to exchanges. They've added a question about digital assets to the front page of every 1040 in America. If you've been trading, selling, staking, swapping, or spending crypto without reporting it, the IRS isn't wondering whether you owe them. They're calculating how much.

And most tax professionals can barely spell "blockchain," let alone defend you when the IRS comes asking questions about your wallet history.

The Classification

How the IRS Sees Your Crypto

The IRS classifies cryptocurrency as property. Not currency. Property. That distinction matters because it means every single transaction is potentially taxable.

Bought Bitcoin at $8,000 and sold at $45,000? Capital gain.

Swapped Ether for Solana? Taxable event.

Used crypto to pay for a car? Taxable event.

Got paid in crypto for freelance work? Ordinary income, taxed the day you received it.

Every trade. Every swap. Every spend. Each one has a cost basis, a fair market value, and a potential tax consequence. Multiply that across hundreds or thousands of transactions over several years and you start to see why so many crypto investors are in trouble they don't even fully understand yet.

The Chaos

The Recordkeeping Nightmare

This is where most people's problems really live. Not in bad intentions — but in bad records.

You traded across four exchanges over three years. One of them shut down. Another got hacked. You moved coins between wallets. You participated in DeFi protocols. You earned staking rewards at 2 AM that you forgot about by morning.

Now the IRS wants the U.S. dollar value of every transaction at the exact time it occurred. If you don't have that, they'll calculate it for you. And when the IRS does your math, the number always comes out in their favor.

Foreign Accounts & FBAR

If you held crypto on a foreign exchange and the value exceeded $10,000 at any point during the year, you may be required to file an FBAR — the same reporting requirement that applies to foreign bank accounts.

Penalties: $10,000 per violation for non-willful failures. Willful violations can reach the greater of $100,000 or 50% of the account balance.

Criminal Exposure

The IRS doesn't just want penalties from crypto non-compliance. In serious cases, they pursue criminal prosecution. Willful failure to report. Tax evasion. Filing false returns.

They've already made examples of high-profile crypto cases. They'll make examples of smaller ones too. The enforcement infrastructure is built and running.

The Triage

What We Do

We untangle the mess. That's the simplest way to describe it.

Reconstruct History

We reconstruct your transaction history across exchanges, wallets, and protocols. We calculate accurate cost basis even when records are incomplete.

File & Amend

We amend returns filed incorrectly. We prepare and file back returns for years you skipped entirely. We handle voluntary disclosures to get you compliant before the IRS comes to you.

Defend & Resolve

If notices have arrived or an audit letter is sitting on your desk, we step between you and the IRS. Triage, stabilize, rescue — the same way we handle every tax crisis.

Your regular CPA is not equipped for this. Crypto tax law is evolving constantly. The reporting rules are layered and technical. The recordkeeping reconstruction alone requires tools and expertise that most tax professionals simply don't have. We do. This is what we built our practice to handle.

Your Move

The Grace Period Is Over. Square Up Before They Reach Out.

Call 909-570-1103 or go to TaxDebtTriage.com. Whether you need to catch up on years of unreported crypto activity, respond to an IRS notice, or figure out your exposure before the IRS figures it out first — we'll map the whole thing out and give you a clear path forward.

The IRS gave everyone a long grace period on crypto. That grace period is over.

No obligation. Confidential. · 1255 W Colton Ave, Suite #535, Redlands, CA

About the Author

Carlos Samaniego, EA

NTPI Fellow and founder of Tax Debt Consultants LLC in Redlands, California. Carlos represents taxpayers before the IRS nationwide and before the California Franchise Tax Board statewide. He owed the IRS himself before he became an Enrolled Agent.

Published: August 5, 2026

Last updated: August 5, 2026

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