Parents Beware: “Crypto” Tax Lies Beneath…

The taxation of cryptocurrency is no longer just a young person’s problem.

That changed the day the Internal Revenue Service (IRS) made cryptocurrency a focal point of enforcement and added a crypto disclosure question on IRS Form 1040. Unsuspecting parents with dependent children should be on guard. The IRS is looking for noncompliance and the crypto question creates a possible perjurious trap. Noncompliance may be sleeping in the basements of many unwary parents.