r/CryptoTax • u/AlfalfaTemporary6574 • May 21 '25

Letter from IRS

So I just got a letter from the IRS, but it's a bit vague. Basically saying they know I have a wallet, and might need file an amended return for one or more years. I want to deal with this in a timely manner but I'm not sure where to start. I haven't sold anything in 7 or 8 years, when how to deal with taxes was unclear. And haven't even traded or exchanged anything in I'd say 3 or 4 years. I didn't realize that exchanging was a taxable event at that time. I've never filed an amended return and the letter lists a ton of different forms I might need or use. Can i figure this out on my own with the info from my exchange? Should I try calling the irs hotline# on the letter? Would it be worth trying to find a crypto tax accountant or something?

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6

u/Zaytion_ May 22 '25

If you try calling the IRS hotline, know that you have to call right away in the morning as soon as they open. And you still might have to wait for hours.

5

u/[deleted] May 22 '25

Because it's only like three people talking calls. And thousands of bots

0

u/Firm_Ad_6712 May 24 '25

AI bots have taken over the IRS, since MAGA fired nearly every IRS auditing agent. 😠😠

6

u/jummy006 May 25 '25

You’re in crypto and you like the IRS? Lol. Trump could miraculously cure cancer and some of you would still be mad. Just beautiful.

1

u/Firm_Ad_6712 May 27 '25

Without taxes socialism cannot function. 👌

2

u/DetectiveDaleCooper May 22 '25

In my experience, they’ve been surprisingly helpful and informative when I do get them on the line, just such a pain in the ass to get a hold of them... I remember there were guides on which number options to pick to get through .