As 2020 continues to evolve and change, so does financial and tax planning for the 2020 tax year. Please remain in ongoing contact with our office every 2-3 weeks for updates on any specific questions related to your financial and tax planning. In preparing 2018 cryptotax returns, it was noticed that a lot of people had cryptocurrency transactions in prior years.
The IRS can audit your returns for the last three years, which means that they can still look at returns from 2016, 2017, and 2018. However, if they find something, they can go back another 3 years from the date of what they found. Which means they can now audit you in 2013, 2014, and 2015. And so on.
The IRS can audit your returns for the last three years, which means that they can still look at returns from 2016, 2017, and 2018. However, if they find something, they can go back another 3 years from the date of what they found. Which means they can now audit you in 2013, 2014, and 2015. And so on.
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