IRS & California Tax Blog

The year 2025 has been another landmark period for the digital asset space, marked by significant regulatory shifts, technological advancements, and evolving tax guidance. For investors and businesses in California, staying ahead of these changes is crucial for compliance and strategic planning. As the year draws to a close, let’s review the most impactful crypto…

There are few things more anxiety-inducing than finding a letter from the Internal Revenue Service in your mailbox. Your mind might immediately jump to the worst-case scenario: a full-blown audit. While some notices are indeed serious, many are routine requests for information or notifications of minor adjustments. The most important thing is not to panic—and…

The holiday season brings cheer, family gatherings, and, unfortunately, a significant spike in financial scams. As digital assets become more mainstream, so do the sophisticated methods criminals use to steal them. This year, holiday crypto scams are expected to be more prevalent than ever. Investors in tech-savvy hubs like the San Francisco Bay Area and…

For businesses in California, embracing cryptocurrency can open up new markets, streamline payments, and attract a tech-savvy clientele. However, accepting, holding, or paying with digital assets introduces a labyrinth of accounting and tax challenges that standard bookkeeping practices are simply not designed to handle. This is where specialized crypto accounting for businesses becomes not just…

The IRS is no longer taking a passive approach to cryptocurrency. With advanced data analytics and information from crypto exchanges, the agency is actively identifying taxpayers who may have underreported or failed to report their crypto gains. For crypto traders in California, a state already known for its rigorous tax enforcement, the risk of an…

The feeling of dread that comes with unfiled tax returns is a heavy burden. Whether it’s been one year or several, the problem doesn’t go away on its own. In fact, it gets worse. The IRS and the California Franchise Tax Board (FTB) impose steep failure-to-file penalties and interest, which can quickly spiral into overwhelming…

As cryptocurrency continues to integrate into our financial lives, understanding the tax implications is more critical than ever, especially for investors in a high-scrutiny state like California. The IRS and the California Franchise Tax Board (FTB) are clear: profits from cryptocurrency are taxable. Whether you’re a seasoned trader in San Francisco or just starting with…

As the end of the year approaches, the December 31st deadline looms large for savvy crypto investors in California. The final quarter is a critical window to make strategic decisions that can significantly reduce your tax liability for the year. With the IRS increasing its focus on digital assets and new reporting rules on the…

When you receive a letter from the IRS, it’s tempting to ignore it, especially if you already know you owe back taxes. But inaction can lead to escalating consequences: wage garnishments, bank levies, liens, and substitute returns that inflate what you owe. A tax debt attorney can help you stop collections before they begin and…

Cryptocurrency fraud is rising at an alarming pace, leaving thousands of investors unsure of their next move. With the anonymity of blockchain transactions and the speed at which scammers operate, victims often feel helpless. This is where a crypto recovery lawyer plays a critical role. While no recovery process is guaranteed, working with an attorney…