Form 1099-DA first reports 2025 digital-asset gross proceeds during the 2026 filing season. Basis reporting begins for certain covered digital assets acquired on or after January 1, 2026.

Mining and staking rewards generally create ordinary income when the taxpayer has dominion and control. Their fair market value becomes basis, and a later sale, exchange, or spending transaction creates a separate gain or loss calculation.

Section 1091 generally applies to losses on stock or securities. Many digital assets held as property fall outside that rule under current federal tax law, but the asset, transaction, related-party, straddle, and documentation rules still matter.

A direct gift of appreciated cryptocurrency may avoid recognition of gain, but the charitable deduction depends on holding period, basis, recipient type, contribution limits, acknowledgment, Form 8283, and often a qualified appraisal.

Cryptocurrency compensation is measured in U.S. dollars when paid. Employee wages remain subject to payroll reporting and withholding, contractor reporting uses the applicable 2026 threshold, and the payer may recognize gain or loss on transferred crypto.

A joint return generally creates joint and several liability. Sections 6015(b), 6015(c), and 6015(f) provide different forms of relief, with different knowledge, marital-status, allocation, timing, and equitable requirements.

A missed payment does not always terminate an installment agreement immediately. CP523, current filing and payment compliance, reinstatement fees, modification requests, Collection Appeals Program rights, and prior levy notices determine the next steps.

Fresh Start is not a single settlement application or guaranteed debt-reduction program. It refers to IRS collection-policy changes and is now mainly a marketing label for ordinary collection alternatives with separate eligibility rules.

The IRS generally has 10 years from assessment to collect, but each assessment can have a different expiration date and statutory suspensions can extend the period. Transcript dates alone should not be treated as a complete CSED calculation.

Currently Not Collectible status generally pauses active enforced collection when payment would create hardship. The tax remains due, interest and penalties continue, refunds may be offset, liens may remain, and the IRS can review the account later.

A timely Collection Due Process request can preserve Appeals and Tax Court rights and generally restrict the levy action at issue. The exact deadline printed on the notice, liability history, compliance, and requested collection alternative matter.

A levy is the IRS's legal seizure process. A wage levy is one type of continuing levy, while bank levies generally capture funds held when the levy is received. Notice requirements, exemptions, release rules, and third-party obligations differ.

CP504 warns of levy action and may permit a state-tax-refund levy, but it generally is not the same as a final levy notice that creates Collection Due Process rights. LT11 or Letter 1058 generally provides the statutory hearing opportunity.

A statutory notice of deficiency generally gives a taxpayer 90 days—150 days in certain foreign-address cases—to petition the U.S. Tax Court before assessment. The deadline is jurisdictional under current law and generally cannot be extended by the IRS.

Most IRS examinations remain civil. Potential criminal exposure turns on evidence of a willful violation and affirmative acts, not merely a large adjustment. Contact from IRS Criminal Investigation should be handled through experienced criminal tax counsel.

The IRS generally has three years to assess additional tax, but the starting date, six-year substantial-omission rules, unfiled returns, false returns, extensions, amended returns, and special statutes can change the deadline.

Audit reconsideration asks the IRS to reevaluate an assessed examination adjustment, usually when information was not previously considered. An amended return changes a taxpayer-filed return and may function as a refund claim. Neither replaces a live appeal or Tax Court deadline.

Correspondence examinations are generally handled by mail, office examinations involve an IRS office interview, and field examinations are conducted by revenue agents and may cover broader business issues. Scope, records, communication, and appeal rights depend on the actual case.

Answers to common questions about estimated payments, incomplete books, S-corporation compensation, and IRS notices. Each answer depends on the taxpayer's actual facts and current federal rules.

The ERC claim period has ended, but pending claims, disallowances, refund suits, promoter issues, amended income-tax returns, and audits remain active. The applicable assessment period depends on the quarter and current law.