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[@CryptoTaxesGuy](/creator/twitter/CryptoTaxesGuy)
"What are some potential tax scams taxpayers should be aware of for the 2025 tax year In July 2025 the Social Security Administration (SSA) under Commissioner Frank Bisignano sent an email to beneficiaries falsely claiming that the recently passed "One Big Beautiful Bill Act" (OBBB) would "eliminate federal income taxes on Social Security benefits for most beneficiaries". This was made in error and was not true. Instead the senior citizen deduction under the One Big Beautiful Bill (OBBB) is a new temporary $6000 tax deduction available to individuals aged XX and older. Eligible individuals can"  
[X Link](https://x.com/CryptoTaxesGuy/status/1978882475964182774) [@CryptoTaxesGuy](/creator/x/CryptoTaxesGuy) 2025-10-16T17:55Z 1146 followers, XX engagements


"Roger Ver known as "Bitcoin Jesus" has reached a deferred prosecution agreement with the US Justice Department to resolve federal tax charges. The charges stemmed from his failure to report Bitcoin holdings and pay associated taxes when he renounced his US citizenship in 2014. Under the agreement Ver has paid nearly $XX million (reported as $XXXX million) to the IRS covering back taxes penalties and interest. Following this payment the government moved to dismiss the indictment against him. This resolution is seen by some as part of a broader more lenient approach to federal cryptocurrency"  
[X Link](https://x.com/CryptoTaxesGuy/status/1978460447901712456) [@CryptoTaxesGuy](/creator/x/CryptoTaxesGuy) 2025-10-15T13:58Z 1147 followers, XX engagements


"The federal government is shutdown Do extended tax returns still have to be filed by October XX 2025 YES Taxpayers who filed for an extension have until October XX 2025 to submit their 2024 tax returns and this deadline remains unchanged despite the ongoing federal government shutdown. The IRS continues to operate with its staff funded by the Inflation Reduction Act of 2022. Filing and payment obligations under federal tax law are not affected by the shutdown. TaxAct has a good summary of what is going with the IRS during the shutdown:"  
[X Link](https://x.com/CryptoTaxesGuy/status/1975923734872465802) [@CryptoTaxesGuy](/creator/x/CryptoTaxesGuy) 2025-10-08T13:58Z 1147 followers, XXX engagements


"@taggartvanetten My favorite: I did X marathons in one day. My first and my last"  
[X Link](https://x.com/CryptoTaxesGuy/status/1976479338053910814) [@CryptoTaxesGuy](/creator/x/CryptoTaxesGuy) 2025-10-10T02:46Z 1147 followers, 1022 engagements


"You open an account with a crypto exchange. You believe transactions and accounts to be pseudo-anonymous. However you are asked to fill out a W-9. You don't think you should. Because of the new Form 1099-DA taxable transactions are now reportable to the IRS and to you to report on your tax return. What happens if you do not fill out the W-9 The exchange is required by the IRS to begin mandatory "backup withholding" on the user's gross proceeds. This rate is XX% for federal taxes and can also apply at the state level. The exchange is also required to collect and verify this information to meet"  
[X Link](https://x.com/CryptoTaxesGuy/status/1979247382035415330) [@CryptoTaxesGuy](/creator/x/CryptoTaxesGuy) 2025-10-17T18:05Z 1147 followers, XX engagements


"Crypto tax legislation has been moving forward let by Senate Republicans. What are democrats proposing regarding crypto taxes Senate Democrats have focused on increasing oversight and imposing stricter rules on the industry. These proposed measures would primarily impact regulation and information reporting rather than introduce new specific tax rates for DeFi activities. Draft legislation seeks to classify any entity or individual who "designs deploys controls or operates a front-end service for a DeFi protocol" as an intermediary or broker. This expansion is intended to subject DeFi"  
[X Link](https://x.com/CryptoTaxesGuy/status/1977736684096688288) [@CryptoTaxesGuy](/creator/x/CryptoTaxesGuy) 2025-10-13T14:02Z 1147 followers, XX engagements


"Taxpayers should contact their tax preparers as part of year-end tax planning especially in 2025 due to significant changes in federal tax law brought about by the One Big Beautiful Bill Act (OBBB) as well as the scheduled sunset of many provisions from the Tax Cuts and Jobs Act (TCJA). Proactive engagement with a tax professional is essential to ensure that taxpayers can take full advantage of new opportunities avoid pitfalls and make informed decisions before the end of the tax year. Heres why this is particularly important now with a focus on OBBB provisions: The OBBB permanently increases"  
[X Link](https://x.com/CryptoTaxesGuy/status/1978853271256142297) [@CryptoTaxesGuy](/creator/x/CryptoTaxesGuy) 2025-10-16T15:59Z 1146 followers, XX engagements


"Are you stressed about crypto capital gains Here are some helpful tips: Calculating crypto gains is taking the Sale price of crypto sold - Purchase price = Your gain (or loss). Paid gas fees You can reduce your gain by subracting gas fees from the sale price. For example you bought DOGE for $XXX swapped for ETH when DOGE hit $XXX you have a $XXX taxable gain. The same math applies whether you're selling crypto for cash. Trading one crypto for another. Buying stuff with crypto Quick tip: Track EVERYTHING. The holding period matters too: less than X year = Short-term gains Held for greater than"  
[X Link](https://x.com/CryptoTaxesGuy/status/1976710656062574817) [@CryptoTaxesGuy](/creator/x/CryptoTaxesGuy) 2025-10-10T18:05Z 1147 followers, XX engagements


"What are X things to know about crypto taxation to make your life easier when its time to file X. Crypto transactions are taxable events: When you buy sell trade or use cryptocurrencies you may incur tax liabilities. These transactions may be subject to capital gains tax and your tax rate will depend on how long you held your crypto before selling or exchanging it. A purchase of crypto is not a taxable event but exchanging or selling crypto purchased is. The digital asset questions on the front page of the 1040 return is a useful tool to determine if you have taxable crypto income to report."  
[X Link](https://x.com/CryptoTaxesGuy/status/1975261122820256057) [@CryptoTaxesGuy](/creator/x/CryptoTaxesGuy) 2025-10-06T18:05Z 1147 followers, XX engagements


"Using crypto you can be subject to several types of taxes X. Capital Gains X. Ordinary Income X. Self employment You will have capital gains tax when you dispose of crypto (sell trade or spend) for a profit. You will incur short-term capital gains for crypto held one year or less. Short-term capital gains are taxed at ordinary income tax rates (up to 37%). Capital gains are reported on Form 8949 and Schedule D (Form 1040). For crypto held more than one year long-term capital gains are taxed at lower rates (0% XX% or 20%). Ordinary income tax is paid when you earn crypto as income. This income"  
[X Link](https://x.com/CryptoTaxesGuy/status/1978127507766280367) [@CryptoTaxesGuy](/creator/x/CryptoTaxesGuy) 2025-10-14T15:55Z 1147 followers, XX engagements


"Executive Order XX has been signed by NYC Mayor Eric Adams to create the nation's first municipal Office of Digital Assets and Blockchain. This is a move to make NYC a global hub for financial and technological innovation. The office is tasked with promoting the responsible use of digital assets and blockchain technologies fostering economic growth attracting talent and making city government more user-friendly. Moises Rendon who served as a digital assets policy adviser for the city was appointed as the office's first executive director. He will report to the city's Chief Technology Officer"  
[X Link](https://x.com/CryptoTaxesGuy/status/1978822567885422778) [@CryptoTaxesGuy](/creator/x/CryptoTaxesGuy) 2025-10-16T13:57Z 1147 followers, 1686 engagements


"A new wallet by wallet crypto tax accounting rule started January X 2025. This will affect how you report your crypto taxes starting in January 2026. Identify all wallets and accounts (including self-custody exchange and broker accounts) where crypto is held. Taxpayers should determine the number of units of each digital asset in each wallet or account as of January X 2025. Finally taxpayers should compile records showing the acquisition date cost basis and transaction history for each unit of digital asset in each wallet or account. Revenue Procedure 2024-28 provides a one-time safe harbor"  
[X Link](https://x.com/CryptoTaxesGuy/status/1979185218314469754) [@CryptoTaxesGuy](/creator/x/CryptoTaxesGuy) 2025-10-17T13:58Z 1147 followers, XX engagements


"Happy filing day for those that extended tax returns.today is the day to file for those that celebrate. If your returns look like a ransom note from your accountant you're in good company"  
[X Link](https://x.com/CryptoTaxesGuy/status/1978491429572722831) [@CryptoTaxesGuy](/creator/x/CryptoTaxesGuy) 2025-10-15T16:01Z 1147 followers, XX engagements


"For your 2025 taxes the Form 1099-DA issued in January 2026 will report the gross proceeds from a customer's crypto transactions. However cost basis will not be reported. It will be up to the taxpayer to make sure the cost basis is upto to date on the 2025 tax return. Cost basis will be reported on the Form 1099-DA beginning on January X 2026 for the 2027 tax filing season. Taxpayers should not rely solely on the Form 1099-DA to determine if the cost basis is correctly reported"  
[X Link](https://x.com/CryptoTaxesGuy/status/1979214641516462361) [@CryptoTaxesGuy](/creator/x/CryptoTaxesGuy) 2025-10-17T15:55Z 1148 followers, XX engagements


"@EmDeeEm Congratulations"  
[X Link](https://x.com/CryptoTaxesGuy/status/1978556112354918538) [@CryptoTaxesGuy](/creator/x/CryptoTaxesGuy) 2025-10-15T20:18Z 1146 followers, XX engagements


"Missed the filing deadline and worried about next steps The IRS offers resources for taxpayers who missed the April 2025 federal income tax deadline and owe taxes interest and penalties. File your tax return and pay as soon as possible to minimize accruing interest and penalties. Even if you can't pay the full balance pay what you can. Pay securely via IRS Online Account IRS Direct Pay EFTPS debit/credit card or digital wallet. Apply online for a payment plan including installment agreements. File your return pay what you can and explore payment options for the remaining balance. The IRS"  
[X Link](https://x.com/CryptoTaxesGuy/status/1975563105087136170) [@CryptoTaxesGuy](/creator/x/CryptoTaxesGuy) 2025-10-07T14:05Z 1147 followers, XX engagements


"The IRS has furloughed nearly half its workforce. What does this mean for crypto taxes Many services and operations have been scaled back with the furloughs. The reductions will affect taxpayer assistance and the growing backlog for disputes and audits. New tax guidance will also be affected as the shutdown continues According to Yahoo Finance the IRS has sent home its call center representatives IT workforce and most of its headquarters staff. However the tax deadline is not affected. If you are on extension you must file the final return by October XX 2025 deadline. Crypto taxpayers will"  
[X Link](https://x.com/CryptoTaxesGuy/status/1976648521437626732) [@CryptoTaxesGuy](/creator/x/CryptoTaxesGuy) 2025-10-10T13:58Z 1147 followers, XX engagements


"@anthonyholler Nice progress. Still remember when I did it the first time"  
[X Link](https://x.com/CryptoTaxesGuy/status/1978979184207700202) [@CryptoTaxesGuy](/creator/x/CryptoTaxesGuy) 2025-10-17T00:19Z 1148 followers, XXX engagements


"A good time at the Ramsey Show Live in Orlando last night"  
[X Link](https://x.com/CryptoTaxesGuy/status/1974048457875661062) [@CryptoTaxesGuy](/creator/x/CryptoTaxesGuy) 2025-10-03T09:46Z 1147 followers, XX engagements


"Are you stressed about crypto capital gains Here are some helpful tips: Calculating crypto gains is taking the Sale price of crypto sold - Purchase price = Your gain (or loss). Paid gas fees You can reduce your gain by subracting gas fees from the sale price. For example you bought DOGE for $XXX swapped for ETH when DOGE hit $XXX you have a $XXX taxable gain. The same math applies whether you're selling crypto for cash. Trading one crypto for another. Buying stuff with crypto Quick tip: Track EVERYTHING. The holding period matters too: less than X year = Short-term gains Held for greater than"  
[X Link](https://x.com/CryptoTaxesGuy/status/1978099837070422156) [@CryptoTaxesGuy](/creator/x/CryptoTaxesGuy) 2025-10-14T14:05Z 1147 followers, XX engagements


"If you receive cryptocurrency through an airdrop staking or mining you have to report the FMV of the crypto received as income. Did you know the FMV reported as income sets the cost basis of the new crypto received Why does cost basis matter You have to pay capital gains on the disposition of crypto. If you sell your crypto for dollars exchange it for another crypto or use it for payment of goods or services you will have to pay capital gains on the disposition of your crypto. How can you determine the FMV of your crypto if you didn't keep records You can use historical price data from"  
[X Link](https://x.com/CryptoTaxesGuy/status/1978157954386788771) [@CryptoTaxesGuy](/creator/x/CryptoTaxesGuy) 2025-10-14T17:56Z 1145 followers, XX engagements


"@B_Holmer lol"  
[X Link](https://x.com/CryptoTaxesGuy/status/1977747769315004801) [@CryptoTaxesGuy](/creator/x/CryptoTaxesGuy) 2025-10-13T14:46Z 1147 followers, XXX engagements


"@adamscrabble Remember Google+ fondly. Met many photographer friends there"  
[X Link](https://x.com/CryptoTaxesGuy/status/1978604573448179717) [@CryptoTaxesGuy](/creator/x/CryptoTaxesGuy) 2025-10-15T23:31Z 1146 followers, XXX engagements


"Went off road for some running today. Had to walk a couple of miles with unpaved roads with cars whizzing by"  
[X Link](https://x.com/CryptoTaxesGuy/status/1977479036453462173) [@CryptoTaxesGuy](/creator/x/CryptoTaxesGuy) 2025-10-12T20:58Z 1147 followers, XX engagements