IRS & California Tax Blog

Did you recently receive Letter 6174-A from the IRS? If you are a crypto holder who has received IRS Letter 6174-A, then this is what you should about it and the questions you should be asking. Is this the IRS acting on Coinbase summons information? It is a reasonable assumption, but the notice does not…

How To Stay in Crypto Tax Compliance Cryptocurrency accounting presents a unique challenge for U.S. taxpayers who must deal with incomplete records, unique documentation standards, and limited IRS direction. Cryptocurrency tax attorney Alexander Kugelman joined the Crypto Craze TV show to explain why compliance with crypto tax laws is so difficult and what can be…

Crypto Tax Podcast Cryptocurrency tax attorney Alex Kugelman appeared on the BitcoinTaxes Podcast with Salvatore Vescio to discuss the purpose behind IRS Letters 6173, 6174, and 6174-A and what they mean for crypto users and traders. Listen to the full podcast here! We Can Help with Your Cryptocurrency Tax Compliance Kugelman Law is a tax…

Crypto Tax Audit Podcast Alex Kugelman, a tax controversy lawyer with expertise in cryptocurrency and IRS audits, joined the BitcoinTaxes Podcast for a deep dive into a cryptocurrency tax audit. Host Salvatore Vescio asked Alexander questions about what to do in the event of an IRS Criminal Investigation (CI) and how the COVID-19 pandemic has…

Crypto Tax Compliance A current court case regarding taxation of cryptocurrency staking could have long-lasting ripple effects throughout the crypto community. The lawsuit (Jarrett v. United States) filed by a Tennessee couple claims staking rewards should not be counted as income. Crypto staking is a way of earning rewards for holding certain cryptocurrencies on proof-of-stake…

After graduating with a Bachelor of Arts degree in Legal Studies from University of California, Berkeley, Eric Ahern wanted to take a transition year to confirm that the legal field was the right fit for him. Working as a Legal Assistant at Kugelman Law gave Eric the experience and confidence needed to properly prepare for…

Kraken Summons Targets Taxpayers With $20,000 in Transactions A federal court has ordered Kraken exchange to provide account information to the IRS pursuant to a “John Doe” summons. The IRS sought information about U.S. taxpayers who conducted at least $20,000 in transactions on the exchange from 2016 through 2020. In October 2023, Kraken emailed customers…