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Membco Tax guide to surviving a crypto tax audit triggered by an SFOX 1099. This Membco Tax guide provides tips on surviving an IRS audit if your return includes an SFOX 1099 form. Get the free guide at: https://rebrand.ly/CryptoAudit. If you are selected for an audit, the IRS will send you a notice in the mail telling you which tax year they will be auditing. The IRS can audit your return if they think you have underreported your income or if you have claimed certain deductions or credits that they think you are not eligible for. In a recent ruling, a federal judge has cleared the way for the IRS to seek customer records from SFOX, a cryptocurrency trading platform. The IRS had subpoenaed SFOX to uncover potential tax evasion by its customers. Why would an SFOX 1099 form trigger an IRS crypto audit? A 1099 form is generally used to report income that is not subject to withholding tax. If an SFOX 1099 form is filed with the IRS that reports income from cryptocurrency may trigger an IRS crypto audit. Recently, the IRS has begun to take an interest in cryptocurrency and has been asking questions about how it is taxed. How to survive an SFOX 1099 IRS audit if you get one If you're one of the unlucky few who get audited by the IRS, don't panic. Some steps can be taken to survive an audit, such as keeping records of all crypto transactions and being honest with the IRS. Membco Tax Offers Guide to Survive an SFOX 1099 IRS Crypto Audit. Get the free guide at: https://rebrand.ly/CryptoAudit. Find Out More At https://www.investortaxhelp.c om/
