Is Your Bank, Broker or Exchange Sharing Your Transactions with the IRS?
Offshore Account UpdatePosted in on August 31, 2021
The Internal Revenue Service (IRS) relies on information from various sources to examine taxpayer compliance. This includes information obtained from banks, brokers, and cryptocurrency exchanges. If your bank, broker or exchange has shared information about your transaction history with the IRS—and if this information is inconsistent with the information you reported on your federal tax returns—this could lead to a tax audit or investigation. Learn more from New Jersey tax lawyer Kevin E. Thorn, Managing Partner of Thorn Law Group.
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