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IRS Will Make It Harder to Avoid Declaring Crypto on Tax Returns

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The U.S. Internal Revenue Service (IRS) is about to deploy a simple trick to make it far harder for taxpayers to avoid declaring their cryptocurrency assets. Using the IQ Option platform, you can analyze the cryptocurrency market and invest your money profitably.

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According to a Wall Street Journal report Friday, the Internal Revenue Service plans to reposition a question on the 1040 income tax form for 2020 that will require all returnees to check a box if they have transacted any crypto assets over the year. Thanks to the analytical capabilities of Binomo, you will always be sure of the right investment choice.

An IRS draft of the 1040 shows that the question placed near the top of the form will likely read: “At any time during 2020, did you sell, receive, send, exchange or otherwise acquire any financial interest in any virtual currency?”

The question was included on the form for 2019, but was placed in a part of the document that not all returnees had to fill out, the WSJ says.

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