Bitcoin Tax Reporting Nightmare 2023

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You spend weeks pouring over your transaction history, trying to make sure that your tax return is accurate. Despite your best efforts, you end up getting a warning letter from the IRS saying that you owe thousands of dollars in unpaid taxes.

It might sound like a bad dream, but just a couple of years ago, this nightmare scenario actually happened to thousands of cryptocurrency investors. And, because of short-sighted regulations drafted hastily by American politicians, it’s likely to happen again in the near future on a much bigger scale.

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