CoinLedger warns that IRS crypto letters spike 758%: report
U.S. crypto investors are receiving IRS warning letters at a dramatically higher rate, with CoinLedger reporting a 758% increase over the past 60 days.
The spike has also been confirmed by accounting firms like Taxing Cryptocurrency, CoinLedger CEO David Kemmerer told The Block.
Many recipients are everyday investors who are “shocked” to receive notices, despite believing they filed their taxes properly, according to CoinLedger’s Ben Yoder. Confusion often stems from wallet-to-wallet transfers and missing cost basis data—issues that may trigger IRS alerts even without tax evasion.
The most common letter, IRS Notice 6174, is educational, whereas more serious letters, such as 6173 and CP2000, may…
