EPISODE 71: What Every Cryptocurrency Investor Needs to Know About the Inflation Reduction Act

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DWealth Muse is a podcast series on Digital Wealth News that bridges the knowledge gap between conventional and modern finance through original coverage of the tidal wave of technological and regulatory change headed to finance as it shifts to a digital, decentralized system.

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EPISODE 71 – What Every Cryptocurrency Investor Needs to Know About the Inflation Reduction Act

In this episode, DWealthMuse host, Dara Albright, and guest Kell Canty, CEO of Ledgible, Crypto Tax & Accounting Software for Professionals, discuss how the Inflation Reduction Act will impact cryptocurrency investors and ways to stay out of the IRS crosshairs. Highlights include:

  • Why it’s been so difficult for cryptocurrency investors (and their accountants) to keep track of cryptocurrency transactions;
  • Why the ability to track crypto transactions is becoming increasingly paramount;
  • What the $45+ billion allocated towards IRS enforcement in the Inflation Reduction Act means to cryptocurrency investors;
  • Avoiding the IRS cryptocurrency perjury trap;
  • What cryptocurrency investors can do to prepare for any IRS rules that might be retroactive;
  • The complexities of taxing NFTs;
  • Finding crypto qualified CPAs;
  • The lawsuits that may provide insights into future crypto tax regulations.

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