IRS Letter 6174: A Hidden Trap for Crypto Investors with Offshore Accounts? скачать в хорошем качестве

IRS Letter 6174: A Hidden Trap for Crypto Investors with Offshore Accounts?

For More Go To: https://irsmedic.com/irs-letter-6174-... Join tax attorney Anthony Parent of IRSMedic and special guest Keith Redmond and John Richardson, Esq. for a critical discussion on the new IRS Letter 6174 targeting taxpayers with undisclosed offshore cryptocurrency accounts. Issued by the IRS’s Large Business & International (LB&I) division—known for enforcing FBAR penalties—this letter is raising red flags for crypto investors. Despite its vague instructions to simply “amend your returns” to report crypto gains or losses, Letter 6174 omits critical details about required foreign reporting forms like FBAR (FinCEN Form 114), Form 8938, or Form 5471. Worse, it fails to mention the Streamlined Filing Compliance Procedures, a program that could help non-willful taxpayers avoid crushing penalties. Recent TIGTA reports criticize LB&I for targeting smaller taxpayers with high FBAR penalty exposure due to the simplicity of these cases, which yield a high return on investment for IRS examiners. This aggressive approach could leave unsuspecting taxpayers facing massive fines for non-compliance, even after following the letter’s guidance. In this episode, Anthony, Keith and John, break down: • What IRS Letter 6174 means for crypto investors • The hidden risks of FBAR, Form 8938, and Form 5471 penalties • Why amending returns without proper compliance could backfire • How the Streamlined Disclosure Program can protect you • Practical steps to safeguard your assets and avoid IRS traps Don’t let IRS Letter 6174 catch you off guard! Subscribe to IRSMedic for expert tax advice, hit the bell for notifications, and visit irsmedic.com for personalized help from our team. #IRSLetter6174 #CryptoTaxes #FBARPenalties #OffshoreAccounts #StreamlinedDisclosure