Questions tagged [does not report]

CryptoMagician Tue Jul 02 2024 | 5 answers 834

What crypto wallet does not report to the IRS?

I'm curious about the realm of <a href="https://www.btcc.com/en-US" title="cryptocurrency">cryptocurrency</a> wallets and their tax reporting requirements. Given the ever-changing landscape of digital assets, I'm wondering which crypto wallet, if any, does not report transactions to the Internal Revenue Service (IRS)? I've heard rumors of certain "privacy-focused" wallets that aim to keep user data confidential, but I'm not sure if they truly evade IRS scrutiny. Clarifying this point is crucial for me as a taxpayer and crypto enthusiast, as I want to ensure I'm complying with all relevant tax laws while still maintaining a degree of privacy in my financial transactions.