IRS Drops Crypto Scam Victims' Tax Bill on Theft Loss Deduction
The IRS reached an agreement with a New York couple that they no longer owed taxes or penalties, after previously disallowing their $965,000 theft loss deduction related to a cryp…
The IRS reached an agreement with a New York couple that they no longer owed taxes or penalties, after previously disallowing their $965,000 theft loss deduction related to a cryptocurrency investment scam, according to a US Tax Court decision Friday.
Source: https://news.bloombergtax.com/daily-tax-report/irs-drops-crypto-scam-victims-tax-bill-on-theft-loss-deduction