Join tomorrow’s conversation with Arbitrum (💙,🧡)!

We’ll cover: CoinTracker's industry-leading tax support for Arbitrum, staking, lending, liquidity pools, NFT support, and more. 🪩

Set a reminder ⤵️ ⏰ April 12, 11am PT/2pm ET
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Best way to deal with crypto is to invest and not look at it for the next 10 years.

If you wonder why you should file your crypto taxes, here are the top 5 reasons 👇

1. Crypto is a high priority for the IRS.
Regulators believe that crypto is contributing to the ever-increasing tax gap. The tax gap is the difference between the amount of taxes the IRS should…

3/ Filing an extension does not increase your chances of being audited. You don't need to give a reason to the IRS for extending your return either.

Some states may require a separate state extension.

Important: The IRS only allows you to extend your tax return filing date. The IRS does not allow you to extend paying your 2023 tax bill (due April 15, 2024) to Oct 15, 2024.

This means if you owe money to the IRS for the 2023 tax year, you should pay this when you file an…

What happens if you can't file your taxes by April 15th? 🧵

1/ You still have plenty of time to file so I'd encourage you to start the process!

2/ If you still can't meet the deadline, you can apply for an extension by filing Form 4868 with the IRS.

This extends your filing…

CoinTracker Just finished my taxes. 2nd year in a row I've used CoinTracker.

It's the cleanest and easiest service that I've tried, and I've intentionally tried all of the bigger names in crypto tax. I appreciate your product, it makes a pain the a** task MUCH easier. Thanks!

Live look at a small town airport when private equity finds out the local HVAC company owner is retiring and his kids don’t want to take over the business

When you do your own taxes after memecoin szn

How single are you!

If you can't prove your cost basis, the IRS assumes that it's zero.

This is why using crypto tax software is very important.

Elon Musk ( X) vs Mark Zuckerberg (threads, insta, fb ) (parody/meme)

If you don't file a return, you give the IRS UNLIMITED time to come and audit you.

If you file a return, you only give the IRS a 3-year window to come and audit you.

Filing something is better than filing nothing!

This concept is known as the statute of limitation.

twitter is terrible. can take one day off and your engagement/reach will fall by 50%

need better alternatives for actually sharing information

I am convinced that busiest people have a better response rate

Crypto is the place where everyone feels late when they arrive.

1/ In the last few days, we've gotten a great look at how the SEC's strategy against Coinbase 🛡️ and Binance is going to play out.

Here's how that strategy could be used to target decentralized exchanges (DEXs) next and why those attacks should fail. 🧵

If you don't wanna pay taxes on crypto gains, just buy crypto in your retirement account. That's it.

1/ Today’s Wells notice against Uniswap Labs 🦄 is disappointing, but is not unexpected from this SEC

It’s another abuse of power – unsurprising from an SEC that:

Last month, a federal judge ruled committed a 'gross abuse of power' by lying in court about a crypto project

If you don't wanna pay taxes on crypto gains, just buy crypto in your retirement account. That's it.