If you received a CP2501 Notice, that means the information reported to the IRS by third parties does not match the information you reported on your tax return.When it comes to crypto, this often means that one of your cryptocurrency exchanges reported information about you to the IRS, but you didn’t include this cryptocurrency income on your tax return.

Notice CP2501 doesn’t include how much tax the IRS thinks you owe, but it will likely be followed up by a Notice of Deficiency if you don’t act in time. Responding to your CP2501 Notice quickly is key to getting a favorable resolution.

If you’ve received this cryptocurrency letter from the IRS, don’t wait. Fill out our online form or call (847) 580-1279 now to get help from our experienced crypto tax lawyers!

If you received a CP2501 Notice, that means the information reported to the IRS by third parties does not match the information you reported on your tax return.When it comes to crypto, this often means that one of your cryptocurrency exchanges reported information about you to the IRS, but you didn’t include this cryptocurrency income on your tax return.

Notice CP2501 doesn’t include how much tax the IRS thinks you owe, but it will likely be followed up by a Notice of Deficiency if you don’t act in time. Responding to your CP2501 Notice quickly is key to getting a favorable resolution.

If you’ve received this cryptocurrency letter from the IRS, don’t wait. Fill out our online form or call (847) 580-1279 now to get help from our experienced crypto tax lawyers!

Have you received Letter 6323 from the IRS? That means a tax audit is coming, and your cryptocurrency investments could throw a wrench in the process. Although Gordon Law Group has been practicing cryptocurrency tax law since 2014, most tax professionals—including IRS audit examiners—are still struggling to catch up to this complex field.

Learn more about cryptocurrency audits and how we can help, or contact our tax attorneys now for a confidential consultation. We’ve helped 100s of clients with complex audits!

If you receive Notice CP90 from the IRS, there’s no time to lose; call our tax attorneys immediately at (847) 580-1279 to stop the IRS from seizing your assets!

This is the final warning before the IRS begins extreme collection measures for unpaid tax debt (including cryptocurrency tax debt). If you ignore the letter, the IRS could place a lien on your house or car; contact your employer to begin garnishing wages; legally take control of your cryptocurrency holdings; or even levy funds directly from your bank account.

But it’s not too late to stop these worst-case scenarios. If you’ve received this IRS cryptocurrency letter, contact our experienced attorneys now and we’ll guide you through the Due Collections Process to tackle the problem. Let’s turn that looming tax debt into a thing of the past!

Many cryptocurrency investors may receive a CP518 Notice due to unfiled tax returns. Failing to respond often means the IRS will prepare a tax return for you with the information it has available, called a Substitute For Return.

For crypto traders, that’s usually very bad news: The information reported to the IRS by third-party sources tends to make your capital gains look much higher than they really are, leading to a higher tax bill.

If you receive IRS Letter CP518 and want help filing your tax returns correctly—including a full crypto tax report to prove the correct amount of capital gains—contact the experienced tax attorneys at Gordon Law Group!

Letter 6174 and 6174-A

If you’ve received Letter 6174 or 6174-A and you’re not 100% sure you’ve met your filing obligations, you’d be wise to amend past tax returns and report your cryptocurrency correctly going forward.

These IRS cryptocurrency letters are considered soft notices to suspected investors in virtual currency. Letters 6174 and 6174-A indicate that the IRS believes you have unreported cryptocurrency activity. These letters do not require a response, but they do alert you that the IRS is watching.

Want to discuss your IRS risk with a cryptocurrency tax attorney? Give us a call at (847) 580-1279 for a confidential consultation!

Letter 6173

IRS Letter 6173 requires a response. This warning letter indicates that the IRS has reason to believe you’ve had cryptocurrency that wasn’t properly reported on your tax returns. It also notes that you may be referred for examination (meaning a cryptocurrency tax audit) if you don’t respond by the deadline.

If you receive IRS Letter 6173, contact our crypto tax attorneys right away. We’ll get to work fast to correct any reporting errors, and get you squared away before the IRS escalates to an audit!