Crypto Crackdown Is Here: The IRS Is Watching Your Wallet: Are You Ready?

Steve Perry

Published on: 21/07/2025

The IRS has unleashed sweeping new regulations on digital assets that could devastate unsuspecting taxpayers. Beginning in 2025, Form 1099-DA will report all crypto and NFT transactions—meaning the IRS will know every move you make. Whether you bought, sold, traded, or moved coins between wallets, your actions could now trigger a tax event. The risk? Frozen bank accounts, levies, and aggressive enforcement. Steve Perry, EA, breaks down what these changes mean for you and why immediate action is essential. With deep knowledge of digital asset rules and IRS collection procedures, Steve helps taxpayers protect their finances before the IRS comes knocking. Contact Steve today at (678) 717-9818 or [email protected], and send him a message on LinkedIn at www.linkedin.com/in/steveperrybtm. Don’t assume your crypto is safe—the IRS isn’t guessing anymore. They’re tracking.

Tax education articles and IRS representation advice for individuals and small businesses

Tax Planning

Steve Perry

Published on: 16/06/2025

The key difference between tax preparation and tax planning is timing. **Tax preparation** happens after the year ends—essentially tallying up income, deductions, and taxes owed or refunded. It reflects the results of the year’s actions, whether planned or not. In contrast, **tax planning** is a proactive, year-round process focused on making strategic decisions that reduce tax liability before it’s time to file. Effective tax planning has two main components: making decisions with tax consequences in mind and maintaining organized, accurate records to support those decisions. Poor planning and weak documentation are major causes of IRS issues. Even legitimate deductions can be lost if not properly documented. A consistent recordkeeping system—whether digital or paper-based—ensures all receipts, bank records, and other proofs of transactions are available when needed, especially during audits. These records should be kept for at least 3 years, and up to 5 years, or longer for property-related items. Tax planning also involves working with a knowledgeable professional who can advise on business and financial decisions with tax impact—such as when to buy equipment or how to structure transactions. Ultimately, tax planning helps taxpayers retain more of their income legally, while staying compliant with tax laws and prepared for any IRS scrutiny.

Tax education articles and IRS representation advice for individuals and small businesses