Just a few weeks ago, the Treasury Department released a publication stating it did not require taxpayers to report cryptocurrency. Now the IRS says differently.
IRS seizure is something that no small business owner wants to deal with. That being said, if the IRS suspected owners were skirting the laws about financial transactions, the possibility of having their assets seized was all too real.
If you’re a business owner, there are few things more frustrating than a notice you’re being audited. You have enough to worry about already without the detailed requirements an audit presents.