Can You Deduct Your Crypto Losses as Fraud?

Can You Deduct Your Crypto Losses as Fraud?

By Dave Horwedel, EA, and CEO of Torchlight Tax Yes. If you were the victim of fraud and can prove it. As an EA, my clients can sign form 2848 IRS Power of Attorney, and I can represent them before the IRS in the same way a tax attorney can. Under IRS rules, a fraud...
Responding to the IRS: 2024 Update

Responding to the IRS: 2024 Update

by Dave Horwedel, EA, and CEO of Torchlight Tax First, do not panic!! Yes, it can be upsetting to receive a notice from the IRS. But the first step is to take a deep breath and calmly read the notice or letter. The notice or letter states the reason it was sent, its...

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