{"id":404373,"date":"2019-11-14T19:00:25","date_gmt":"2019-11-14T19:00:25","guid":{"rendered":"https:\/\/wncen.com\/?p=404373"},"modified":"2024-06-11T13:34:07","modified_gmt":"2024-06-11T13:34:07","slug":"us-crypto-investors-may-need-to-consider-amending-past-tax-returns","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/us-crypto-investors-may-need-to-consider-amending-past-tax-returns\/","title":{"rendered":"US Crypto Investors May Need To Consider Amending Past Tax Returns"},"content":{"rendered":"

Tax law surrounding crypto assets is currently convoluted and confusing, even despite Congress demanding the IRS clarify the law<\/a>, and the IRS taking steps to provide more clarity<\/a> to crypto investors in the United States.<\/span><\/p>\n

However, given some recent comments from an IRS official regarding like-kind exchanges, crypto investors based in the US may want to consider going back and amending their tax returns to ensure they comply with the law.<\/span><\/p>\n

IRS Clarifies Law Surrounding Like-Kind Exchange<\/h2>\n

Ever since Facebook<\/a> unveiled its Libra<\/a> cryptocurrency, the United States government and its many branches of government office have taken notice of the young, wild-west-like crypto industry, and the assets traded within it.<\/span><\/p>\n

Related Reading | Confusing U.S. Tax Laws Lead to $5 Billion In Unrealized Crypto Losses\u00a0<\/a><\/strong><\/em><\/p>\n

Concerns over the disruption of the current monetary system, its use for illicit crimes<\/a> like money laundering or terrorist funding, and more, have caused the US government to crack down<\/a> on the crypto market. <\/span><\/p>\n

It\u2019s also caused the IRS to suddenly take more interest in crypto assets, and have updated tax forms to include if a taxpayer owns crypto assets \u2013 to ensure they aren\u2019t missed on tax returns. <\/span>Confusion remains around uncommon aspects of the industry, such as airdrops, but the IRS has finally begun to clarify the law in important areas.<\/span><\/p>\n

According to a recent statement by IRS Associate Chief Counsel Suzanne Sinno<\/a>, the office\u2019s policy regarding like-kind exchanges never applied to cryptocurrencies.<\/span><\/p>\n

Wikipedia<\/a> says that a \u201clike-kind exchange\u00a0under United States tax law, also known as a 1031\u00a0exchange, is a transaction or series of transactions that allows for the disposal of an asset and the acquisition of another replacement asset without generating a current tax liability from the sale of the first asset.\u201d<\/span><\/p>\n

Like-kind exchanges that fall under a 1031 exchange include personal property such as vehicles, or even livestock. The law, however, is clear that it doesn\u2019t include stocks, bonds, notes, or \u201cother\u00a0securities\u00a0or evidences of\u00a0indebtedness\u00a0or\u00a0interest.\u201d<\/span><\/p>\n

Crypto Investors Should Speak To a Tax Professional<\/h2>\n

Cryptocurrencies, according to Sinno, do not fall under the 1031 exchange tax code and would need to be reported on income taxes.<\/span><\/p>\n

Prior to 2018, the common belief across the cryptocurrency community<\/a>\u00a0was that like-kind exchanges didn\u2019t need to be reported, and thus any trades of Bitcoin into another crypto asset like Ripple, for example, did not need to be specifically reported \u2013 only when crypto was traded for cash.<\/span><\/p>\n

The IRS claims it will be focusing its crackdown on individuals who haven\u2019t reported their crypto taxes at all, and not those that have made mistakes in reporting. But because many crypto investors may not have reported like-kind exchanges, it could put them into the former category.<\/span><\/p>\n

Related Reading | Overwhelming Majority of Bitcoin and Crypto Investors Refuse to Report Taxes\u00a0<\/a><\/strong><\/em><\/p>\n

Crypto investors who failed to report like-kind exchanges prior to 2018 or at all, would be wise to speak to a tax attorney or accountant to understand their risk exposure, and if filing an amended tax return is suggested.<\/span><\/p>\n

Filing an amended tax return could result in a taxpayer owing back taxes on crypto trades, especially during the 2017 bull run, however, it is likely a small price to pay compared to the fines and potential jail time for failing to properly report income taxes.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Tax law surrounding crypto assets is currently convoluted and confusing, even despite Congress demanding the IRS clarify the law, and the IRS taking steps to provide more clarity to crypto investors in the United States. However, given some recent comments from an IRS official regarding like-kind exchanges, crypto investors based in the US may want to consider going back and amending their tax returns to ensure they comply with the law. IRS Clarifies Law Surrounding Like-Kind Exchange Ever since Facebook unveiled its Libra cryptocurrency, the United States government and its many branches of government office have taken notice of the young, wild-west-like crypto industry, and the assets traded within it. Related Reading | Confusing U.S. Tax Laws Lead to $5 Billion In Unrealized Crypto Losses\u00a0 Concerns over the disruption of the current monetary system, its use for illicit crimes like money laundering or terrorist funding, and more, have caused the US government to crack down on the crypto market. It\u2019s also caused the IRS to suddenly take more interest in crypto assets, and have updated tax forms to include if a taxpayer owns crypto assets \u2013 to ensure they aren\u2019t missed on tax returns. Confusion remains around uncommon aspects of the industry, such as airdrops, but the IRS has finally begun to clarify the law in important areas. According to a recent statement by IRS Associate Chief Counsel Suzanne Sinno, the office\u2019s policy regarding like-kind exchanges never applied to cryptocurrencies. Wikipedia says that a \u201clike-kind exchange\u00a0under United States tax law, also known as a 1031\u00a0exchange, is a transaction or series of transactions that allows for the disposal of an asset and the acquisition of another replacement asset without generating a current tax liability from the sale of the first asset.\u201d Like-kind exchanges that fall under a 1031 exchange include personal property such as vehicles, or even livestock. The law, however, is clear that it doesn\u2019t include stocks, bonds, notes, or \u201cother\u00a0securities\u00a0or evidences of\u00a0indebtedness\u00a0or\u00a0interest.\u201d Crypto Investors Should Speak To a Tax Professional Cryptocurrencies, according to Sinno, do not fall under the 1031 exchange tax code and would need to be reported on income taxes. Prior to 2018, the common belief across the cryptocurrency community\u00a0was that like-kind exchanges didn\u2019t need to be reported, and thus any trades of Bitcoin into another crypto asset like Ripple, for example, did not need to be specifically reported \u2013 only when crypto was traded for cash. The IRS claims it will be focusing its crackdown on individuals who haven\u2019t reported their crypto taxes at all, and not those that have made mistakes in reporting. But because many crypto investors may not have reported like-kind exchanges, it could put them into the former category. Related Reading | Overwhelming Majority of Bitcoin and Crypto Investors Refuse to Report Taxes\u00a0 Crypto investors who failed to report like-kind exchanges prior to 2018 or at all, would be wise to speak to a tax attorney or accountant to understand their risk exposure, and if filing an amended tax return is suggested. Filing an amended tax return could result in a taxpayer owing back taxes on crypto trades, especially during the 2017 bull run, however, it is likely a small price to pay compared to the fines and potential jail time for failing to properly report income taxes.<\/p>\n","protected":false},"author":517,"featured_media":404381,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[6664,2522,61142,4066,4287],"class_list":["post-404373","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-crypto","tag-irs","tag-like-kind-exchange","tag-taxes","tag-united-states"],"acf":[],"yoast_head":"\nUS Crypto Investors May Need To Consider Amending Past Tax Returns<\/title>\n<meta name=\"description\" content=\"Tax law surrounding crypto assets is currently convoluted and confusing, even despite Congress demanding the IRS clarify the law, and the IRS taking steps\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/us-crypto-investors-may-need-to-consider-amending-past-tax-returns\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"US Crypto Investors May Need To Consider Amending Past Tax Returns\" \/>\n<meta property=\"og:description\" content=\"Tax law surrounding crypto assets is currently convoluted and confusing, even despite Congress demanding the IRS clarify the law, and the IRS taking steps\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/us-crypto-investors-may-need-to-consider-amending-past-tax-returns\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2019-11-14T19:00:25+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T13:34:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/11\/bitcoin-crypto-irs-shutterstock_1281261727.jpg?fit=3750%2C2500\" \/>\n\t<meta property=\"og:image:width\" content=\"3750\" \/>\n\t<meta property=\"og:image:height\" content=\"2500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony "El Toro" Severino\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/tonythebullBTC\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tony "El Toro" Severino\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/wncen.com\/news\/us-crypto-investors-may-need-to-consider-amending-past-tax-returns\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/news\/us-crypto-investors-may-need-to-consider-amending-past-tax-returns\/\"},\"author\":{\"name\":\"Tony \\\"El Toro\\\" Severino\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/5322c9a09a6f19804bb578de17556a1d\"},\"headline\":\"US Crypto Investors May Need To Consider Amending Past Tax Returns\",\"datePublished\":\"2019-11-14T19:00:25+00:00\",\"dateModified\":\"2024-06-11T13:34:07+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/us-crypto-investors-may-need-to-consider-amending-past-tax-returns\/\"},\"wordCount\":561,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/us-crypto-investors-may-need-to-consider-amending-past-tax-returns\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/11\/bitcoin-crypto-irs-shutterstock_1281261727.jpg?fit=3750%2C2500\",\"keywords\":[\"crypto\",\"irs\",\"like-kind exchange\",\"taxes\",\"united states\"],\"articleSection\":[\"Bitcoin\",\"Cryptocurrency Market News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/wncen.com\/news\/us-crypto-investors-may-need-to-consider-amending-past-tax-returns\/#respond\"]}],\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\/\/wncen.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/wncen.com\/news\/us-crypto-investors-may-need-to-consider-amending-past-tax-returns\/\",\"url\":\"https:\/\/wncen.com\/news\/us-crypto-investors-may-need-to-consider-amending-past-tax-returns\/\",\"name\":\"US Crypto Investors May Need To Consider Amending Past Tax Returns\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/us-crypto-investors-may-need-to-consider-amending-past-tax-returns\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/us-crypto-investors-may-need-to-consider-amending-past-tax-returns\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/11\/bitcoin-crypto-irs-shutterstock_1281261727.jpg?fit=3750%2C2500\",\"datePublished\":\"2019-11-14T19:00:25+00:00\",\"dateModified\":\"2024-06-11T13:34:07+00:00\",\"description\":\"Tax law surrounding crypto assets is currently convoluted and confusing, even despite Congress demanding the IRS clarify the law, and the IRS taking steps\",\"breadcrumb\":{\"@id\":\"https:\/\/wncen.com\/news\/us-crypto-investors-may-need-to-consider-amending-past-tax-returns\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/wncen.com\/news\/us-crypto-investors-may-need-to-consider-amending-past-tax-returns\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/news\/us-crypto-investors-may-need-to-consider-amending-past-tax-returns\/#primaryimage\",\"url\":\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/11\/bitcoin-crypto-irs-shutterstock_1281261727.jpg?fit=3750%2C2500\",\"contentUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/11\/bitcoin-crypto-irs-shutterstock_1281261727.jpg?fit=3750%2C2500\",\"width\":3750,\"height\":2500,\"caption\":\"crypto irs like kind exchange\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/wncen.com\/news\/us-crypto-investors-may-need-to-consider-amending-past-tax-returns\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/wncen.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"US Crypto Investors May Need To Consider Amending Past Tax Returns\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/wncen.com\/#website\",\"url\":\"https:\/\/wncen.com\/\",\"name\":\"NewsBTC\",\"description\":\"Bitcoin & Cryptocurrency News Today\",\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/wncen.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/wncen.com\/#organization\",\"name\":\"NewsBTC\",\"url\":\"https:\/\/wncen.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"contentUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"width\":157,\"height\":46,\"caption\":\"NewsBTC\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/newsbtc\",\"https:\/\/x.com\/newsbtc\",\"https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/5322c9a09a6f19804bb578de17556a1d\",\"name\":\"Tony \\\"El Toro\\\" Severino\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/129b75c18bdea8b048f1d7d526df61d7?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/129b75c18bdea8b048f1d7d526df61d7?s=96&d=mm&r=g\",\"caption\":\"Tony \\\"El Toro\\\" Severino\"},\"description\":\"Tony \\\"The Bull\\\" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \\\"The Bull,\\\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \\\"The Bull\\\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.\",\"sameAs\":[\"https:\/\/coinchartist.io\/\",\"https:\/\/www.instagram.com\/coinchartist_io\/\",\"https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC\",\"https:\/\/www.youtube.com\/@coinchartist_io\"],\"url\":\"https:\/\/wncen.com\/author\/tonymspilotro\/\"}]}<\/script>\n","yoast_head_json":{"title":"US Crypto Investors May Need To Consider Amending Past Tax Returns","description":"Tax law surrounding crypto assets is currently convoluted and confusing, even despite Congress demanding the IRS clarify the law, and the IRS taking steps","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/wncen.com\/news\/us-crypto-investors-may-need-to-consider-amending-past-tax-returns\/","og_locale":"en_US","og_type":"article","og_title":"US Crypto Investors May Need To Consider Amending Past Tax Returns","og_description":"Tax law surrounding crypto assets is currently convoluted and confusing, even despite Congress demanding the IRS clarify the law, and the IRS taking steps","og_url":"https:\/\/wncen.com\/news\/us-crypto-investors-may-need-to-consider-amending-past-tax-returns\/","og_site_name":"NewsBTC","article_publisher":"https:\/\/www.facebook.com\/newsbtc","article_published_time":"2019-11-14T19:00:25+00:00","article_modified_time":"2024-06-11T13:34:07+00:00","og_image":[{"width":3750,"height":2500,"url":"https:\/\/wncen.com\/wp-content\/uploads\/2019\/11\/bitcoin-crypto-irs-shutterstock_1281261727.jpg?fit=3750%2C2500","type":"image\/jpeg"}],"author":"Tony \"El Toro\" Severino","twitter_card":"summary_large_image","twitter_creator":"@https:\/\/twitter.com\/tonythebullBTC","twitter_site":"@newsbtc","twitter_misc":{"Written by":"Tony \"El Toro\" Severino","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/wncen.com\/news\/us-crypto-investors-may-need-to-consider-amending-past-tax-returns\/#article","isPartOf":{"@id":"https:\/\/wncen.com\/news\/us-crypto-investors-may-need-to-consider-amending-past-tax-returns\/"},"author":{"name":"Tony \"El Toro\" Severino","@id":"https:\/\/wncen.com\/#\/schema\/person\/5322c9a09a6f19804bb578de17556a1d"},"headline":"US Crypto Investors May Need To Consider Amending Past Tax Returns","datePublished":"2019-11-14T19:00:25+00:00","dateModified":"2024-06-11T13:34:07+00:00","mainEntityOfPage":{"@id":"https:\/\/wncen.com\/news\/us-crypto-investors-may-need-to-consider-amending-past-tax-returns\/"},"wordCount":561,"commentCount":0,"publisher":{"@id":"https:\/\/wncen.com\/#organization"},"image":{"@id":"https:\/\/wncen.com\/news\/us-crypto-investors-may-need-to-consider-amending-past-tax-returns\/#primaryimage"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2019\/11\/bitcoin-crypto-irs-shutterstock_1281261727.jpg?fit=3750%2C2500","keywords":["crypto","irs","like-kind exchange","taxes","united states"],"articleSection":["Bitcoin","Cryptocurrency Market News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/wncen.com\/news\/us-crypto-investors-may-need-to-consider-amending-past-tax-returns\/#respond"]}],"copyrightYear":"2019","copyrightHolder":{"@id":"https:\/\/wncen.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/wncen.com\/news\/us-crypto-investors-may-need-to-consider-amending-past-tax-returns\/","url":"https:\/\/wncen.com\/news\/us-crypto-investors-may-need-to-consider-amending-past-tax-returns\/","name":"US Crypto Investors May Need To Consider Amending Past Tax Returns","isPartOf":{"@id":"https:\/\/wncen.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/wncen.com\/news\/us-crypto-investors-may-need-to-consider-amending-past-tax-returns\/#primaryimage"},"image":{"@id":"https:\/\/wncen.com\/news\/us-crypto-investors-may-need-to-consider-amending-past-tax-returns\/#primaryimage"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2019\/11\/bitcoin-crypto-irs-shutterstock_1281261727.jpg?fit=3750%2C2500","datePublished":"2019-11-14T19:00:25+00:00","dateModified":"2024-06-11T13:34:07+00:00","description":"Tax law surrounding crypto assets is currently convoluted and confusing, even despite Congress demanding the IRS clarify the law, and the IRS taking steps","breadcrumb":{"@id":"https:\/\/wncen.com\/news\/us-crypto-investors-may-need-to-consider-amending-past-tax-returns\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/wncen.com\/news\/us-crypto-investors-may-need-to-consider-amending-past-tax-returns\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/news\/us-crypto-investors-may-need-to-consider-amending-past-tax-returns\/#primaryimage","url":"https:\/\/wncen.com\/wp-content\/uploads\/2019\/11\/bitcoin-crypto-irs-shutterstock_1281261727.jpg?fit=3750%2C2500","contentUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2019\/11\/bitcoin-crypto-irs-shutterstock_1281261727.jpg?fit=3750%2C2500","width":3750,"height":2500,"caption":"crypto irs like kind exchange"},{"@type":"BreadcrumbList","@id":"https:\/\/wncen.com\/news\/us-crypto-investors-may-need-to-consider-amending-past-tax-returns\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/wncen.com\/"},{"@type":"ListItem","position":2,"name":"US Crypto Investors May Need To Consider Amending Past Tax Returns"}]},{"@type":"WebSite","@id":"https:\/\/wncen.com\/#website","url":"https:\/\/wncen.com\/","name":"NewsBTC","description":"Bitcoin & Cryptocurrency News Today","publisher":{"@id":"https:\/\/wncen.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/wncen.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/wncen.com\/#organization","name":"NewsBTC","url":"https:\/\/wncen.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/#\/schema\/logo\/image\/","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","contentUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","width":157,"height":46,"caption":"NewsBTC"},"image":{"@id":"https:\/\/wncen.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/newsbtc","https:\/\/x.com\/newsbtc","https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw"]},{"@type":"Person","@id":"https:\/\/wncen.com\/#\/schema\/person\/5322c9a09a6f19804bb578de17556a1d","name":"Tony \"El Toro\" Severino","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/129b75c18bdea8b048f1d7d526df61d7?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/129b75c18bdea8b048f1d7d526df61d7?s=96&d=mm&r=g","caption":"Tony \"El Toro\" Severino"},"description":"Tony \"The Bull\" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/wncen.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"US Crypto Investors May Need To Consider Amending Past Tax Returns","url":"http:\/\/wncen.com\/news\/us-crypto-investors-may-need-to-consider-amending-past-tax-returns\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/us-crypto-investors-may-need-to-consider-amending-past-tax-returns\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2019\/11\/bitcoin-crypto-irs-shutterstock_1281261727.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2019\/11\/bitcoin-crypto-irs-shutterstock_1281261727.jpg?fit=3750%2C2500"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Tony \"El Toro\" Severino"}],"creator":["Tony \"El Toro\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["crypto","irs","like-kind exchange","taxes","united states"],"dateCreated":"2019-11-14T19:00:25Z","datePublished":"2019-11-14T19:00:25Z","dateModified":"2024-06-11T13:34:07Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"US Crypto Investors May Need To Consider Amending Past Tax Returns\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/us-crypto-investors-may-need-to-consider-amending-past-tax-returns\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/us-crypto-investors-may-need-to-consider-amending-past-tax-returns\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2019\\\/11\\\/bitcoin-crypto-irs-shutterstock_1281261727.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2019\\\/11\\\/bitcoin-crypto-irs-shutterstock_1281261727.jpg?fit=3750%2C2500\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"El Toro\\\" Severino\"}],\"creator\":[\"Tony \\\"El Toro\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"crypto\",\"irs\",\"like-kind exchange\",\"taxes\",\"united states\"],\"dateCreated\":\"2019-11-14T19:00:25Z\",\"datePublished\":\"2019-11-14T19:00:25Z\",\"dateModified\":\"2024-06-11T13:34:07Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2019\/11\/bitcoin-crypto-irs-shutterstock_1281261727.jpg?fit=3750%2C2500","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/404373"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=404373"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/404373\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/404381"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=404373"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=404373"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=404373"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}