Crypto Tax Deadlines You Need To Know

The IRS is focused on the world of crypto, making it more important than ever for your crypto tax clients to get their returns filed on time. Two crucial deadlines are coming soon, and you need to be aware of what needs to be sent to the IRS and when.

September 15 - Quarterly Reports
On September 15th, 3rd Quarter 2019 Estimated Tax Payments are due. If you work with clients who accept cryptocurrency for their business, make sure their capital gains and losses are listed on their return. This is also the deadline for Corporate Tax filings that received a 6-month extension. If you know your clients filed an extension, reach out to them now before this important date passes by.

October 15 - 2018 Individual Returns
Many people file extensions on their personal income tax returns each year. Now is the time to help your clients sort their accounts and prepare their tax paperwork. When it comes to cryptocurrency, transactions must be itemized, so this can be a time-consuming process. Go through your records and contact any of your clients that requested an extension. Not only will this help them remember their taxes are due, but it will also help you build a stronger relationship moving forward.

It’s critical that any tax professional knows these two deadlines and is prepared to help their clients file their taxes. If these dates pass without filing, your clients could face financial penalties or even an audit. It’s up to you to make sure this doesn’t happen. Get in touch with your clients now and remind them that it’s time to get to work.

Want to learn more about earning your crypto tax certification? Click here to discover how you can start your cryptocurrency tax training and offer a vital service to your clients.

Mario Costanz


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