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Tax debt help for crypto investors

Crypto sales get reported. Catch up now.

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Updated October 8, 20262 sourcesFact checked

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Why it matters

Crypto is taxed like property. Selling, trading or spending it can be taxable.

Brokers now send Form 1099-DA for sales, starting with 2025. The IRS sees those forms too.

If you missed crypto on a past return, a tax pro can help you fix it.

  • Digital assets like crypto are property, not currency, for federal tax.
  • Brokers report digital asset sales on Form 1099-DA, starting with sales on or after Jan. 1, 2025.
  • Every Form 1040 asks a yes or no question about digital assets. Getting paid, staking rewards and airdrops count.
  • A 3.8% Net Investment Income Tax can apply over $200,000 single or $250,000 married filing jointly.

What a tax pro may ask you

Have these ready. Clear answers help a tax firm see what fits you.

  • Which exchanges and wallets you used
  • If you got any Form 1099-DA
  • Which tax years you have not filed
  • The notice code in the top right corner of any IRS letter

Common questions

Is crypto taxed?

Yes. It is property for federal tax, so sales and trades can have gains.

What is Form 1099-DA?

A form brokers send for digital asset sales, starting with sales on or after Jan. 1, 2025.

Can a tax pro stop IRS collection?

They can ask the IRS for a payment plan, a hold, penalty relief or an offer, based on your facts. Results depend on your situation. Not every case qualifies.

Ways to get help

Offer in compromise: Ask the IRS to take less than you owe. Hard to get.Payment plan: Pay what you owe a little each month.Not collectible: The IRS pauses collection while money is too tight.What happens if I owe the IRS and can't pay?What happens if I owe back taxes?I owe the IRS money. What do I do first?

Results depend on your situation. Not every case qualifies.

Sources

  1. IRS: Digital assets
  2. IRS: Net Investment Income Tax
Other jobs

We help a lot of jobs

Self employed graphic designer at a home studio desk with a sketch tabletSelf employedNo withholding means the tax bill comes all at once.Gig worker in a hoodie with a delivery bag on a bike at a city cornerGig workersApp pay is taxable, 1099 or not.Rideshare driver in his 40s leaning on his clean sedan at a curb, phone in handRideshare driversMiles matter when the 1099 comes.Delivery driver carrying a box up porch steps, brown jacket, smilingDelivery driversDelivery pay, no withholding.Owner operator truck driver standing by the cab of his semi at a truck stop at dawnOwner operatorsYour own truck, your own Form 2290.

Run the numbers with our free tax tools, like the penalty and payment plan math.

See your options

A few questions. A tax pro calls you back.

Free tools: penalty calculator, 10 year clock, IRS offer data

Free to use. Not the IRS or any government agency. Results depend on your situation. Not every case qualifies.