Crypto Scam Victims Settle with IRS Over Theft Loss Deduction
BLOOMBERG LAW ·
The IRS is dropping its determination that a Silicon Valley couple who lost more than $960,000 in an online crypto scam owes taxes for 2022. George and Julie Fry of San Carlos, Calif., do not need to pay the more than $300,000 in taxes or the more than $64,000 in penalties the IRS asserted earlier this year, according to a stipulated decision that US Tax Court Judge Patrick Urda signed onto Thursday. The order came pursuant to an agreement between the IRS and the Frys. The Frys said in their initial filing that they lost the money investing in an ... From research to software to news, find what you need to stay ahead. Log in to keep reading or access research tools and resources.
AI 시장 분석
Cryptocurrency scammers have reached a settlement with IRS on damages, which may have a significant impact on cryptocurrency investors. Cryptocurrency investors can now proceed with the damage claims process more easily.
상승 영향
- Bitcoin — If cryptocurrency investors can proceed with damage claims more easily, they may regain confidence in cryptocurrency investments.
DYAX 전담 분석
Cryptocurrency scammers have reached a settlement with the IRS on damages, which may have a significant impact on the cryptocurrency market.
The settlement may lead to an increase in investor confidence in cryptocurrency investments.
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