Are there any tax extensions available for cryptocurrency investors?

3 answers

• Avanthika RajDec 22, 2022 · 3 years ago
  As a cryptocurrency investor, you may be eligible for a tax extension. The IRS allows individuals to request an extension of time to file their tax returns, including those related to cryptocurrency investments. You can file Form 4868 to request an automatic extension of six months. However, it's important to note that an extension of time to file does not grant an extension of time to pay any taxes owed. If you anticipate owing taxes on your cryptocurrency investments, it's recommended to estimate your tax liability and make a payment by the original due date to avoid penalties and interest.
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• Andy DemetriouJan 23, 2025 · 5 months ago
  Hey there, fellow crypto investor! Good news for you - you can indeed get a tax extension. The IRS offers an automatic six-month extension for filing your tax return, which includes reporting your cryptocurrency investments. Just fill out Form 4868 and submit it before the original due date. Keep in mind that this extension only applies to the filing deadline, not the payment deadline. If you owe taxes on your crypto gains, it's best to estimate your liability and make a payment by the original due date to avoid any penalties or interest. Happy investing!
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• Mueller AbdiJun 18, 2024 · a year ago
  Yes, there are tax extensions available for cryptocurrency investors. If you need more time to file your tax return, you can request an extension using Form 4868. This will give you an additional six months to file your taxes. However, it's important to note that the extension only applies to the filing deadline, not the payment deadline. If you owe taxes on your cryptocurrency investments, it's recommended to pay as much as you can by the original due date to minimize penalties and interest. If you have any specific questions about tax extensions, you can consult with a tax professional or reach out to BYDFi for assistance.
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