The IRS is sending out more than 10,000 letters between now and the end of August reminding taxpayers that taxes must be paid on their cryptocurrency transactions. The letters are targeted to taxpayers based on information the IRS has received from enforcement efforts (e.g., the summons to Coinbase) and data analytics. There are three variations of the IRS letters (6173, 6174, and 6174-A) with varying degrees of warnings. The IRS urges taxpayers receiving these letters to take immediate action.
The speaker will discuss:
Josh Wu advises large corporations, mid-size businesses, startup companies, and high-net-worth individuals on all aspects of federal tax law. He has particular experience with resolving complex IRS audits, administrative appeals, civil tax litigation, offshore trusts and assets, multijurisdictional investigations, and IRS collection matters.
Josh represents clients in an array of tax controversies and tax litigation matters before the Internal Revenue Service (IRS), the U.S. Tax Court, the U.S. Court of Federal Claims, and the U.S. Court of Appeals for the Federal Circuit.
He regularly helps clients respond to IRS information document requests, manage electronic discovery, prepare for interviews with the IRS, and navigate procedural issues.
Prior to joining Clark Hill Strasburger, Josh worked for several international law firms, including Latham & Watkins LLP, and has been quoted in major news outlets such as The Street, Federal Tax Weekly, and Business News Daily.