NODE40 blog. Stay one step ahead.

You made it! Another tax year in the bag — or at least deferred until October. Now you can take the time to think about strategy.  Tax strategy and tax liability are two sides of the same coin. An effective tax strategy can mitigate one’s tax liability. With cryptocurrencies, the difficulty lies in understanding the […]

The IRS is about to make an example out of cryptocurrency tax avoiders – don’t let it be you. This year, the IRS will ask you if you had cryptocurrency in 2019 and it’s going to make a lot of people nervous. Until now, those choosing to report taxes on crypto were somewhat shielded from […]

A lot of people are, but you don’t have to be one of them this tax season. Over the last five years, the customer support team at NODE40 has been fielding all sorts of questions from customers and reporters, so we tailored our self-service tax platform to help you make sense of your cryptocurrency tax […]

You’re probably receiving emails from other crypto tax platforms filled with claims about how they can save you money on taxes. They claim to have some optimized way to crunch your numbers, or they allow you to pick a minimization strategy when you import your data. If your goal is to try and cheat the […]

Different corporate compliance efforts and a rapidly evolving cryptocurrency industry have outpaced the IRS guidance, leading to American taxpayers receiving notices like the CP2000 from the IRS of massive underreporting. Join crypto tax thought leaders from Sovos and NODE40 as they discuss why users of virtual currencies receive underreporting notices from the IRS and how you can fix the […]

The next filing deadline is right around the corner. If you have cryptocurrency trading activity to include on your tax return, preparing as early as possible is a very sensible approach. While not an impossible task given the proper tools, organizing and understanding your crypto tax liabilities does require some thought. The level of complexity […]

While the buzz around Bitcoin is well and truly reaching papers, airwaves, and TV screens across the globe, there’s something far less visible, but far more exciting at play. I’m talking about the IRS’ hunt for Bitcoin billionaires, or more specifically, individuals that have forgotten to, inadvertently, or deliberately flouted their tax reporting obligations. It’s […]

While independence from government intervention was one of the key tenets that Bitcoin was built on, the majority of cryptocurrencies now operate under far more scrutiny from the authorities than many early pioneers would have hoped for. Unsurprisingly, one of the most interested government authorities is the IRS. The tax agency has noticed the extraordinary […]