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Tax law and stimulus updates. Typically, you should be able to download your transaction activity from the exchange yoou use your activity to the IRS regardless of how you stored.
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CRYPTO TAX LAWYER Explains: How to LEGALLY Avoid Crypto TaxesLegal Consequences: Failing to pay taxes on cryptocurrency gains can result in legal actions initiated by the government. Indian tax authorities. Like many other tax requirements, failure to report your crypto gains on Form can result in hefty fines from the IRS. Initial Failure to File. Moving. Failure to file a TDS return: Individuals who fail to submit a TDS return within the specified timeline may incur a late fee of RS per day.
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