Crypto Taxes: How the IRS Treats Bitcoin, Staking, NFTs, and DeFi
The IRS treats crypto as property, so nearly every sale, swap, and purchase is a taxable event, and staking, mining, and airdrops are ordinary income. New broker reporting and per-wallet basis rules make 2025 the year sloppy records start to bite.
→
FBAR (FinCEN Form 114): Who Must File and the Real Cost of Getting It Wrong
If your foreign accounts together crossed $10,000 at any point in the year, you almost certainly have an FBAR to file. The penalties for ignoring it are far larger than most people expect, and missing prior years is usually fixable if you move first.
→
Streamlined Filing Compliance Procedures: How to Catch Up on Late FBARs and Foreign Income
If you missed foreign account reporting because you genuinely did not know the rules, the Streamlined Procedures let you catch up with limited or no penalty. The catch is that they require certifying non-willful conduct and only work before the IRS contacts you.
→
Foreign Gifts and Inheritances: When Form 3520 Is Required
U.S. persons who receive large foreign gifts or inheritances may need Form 3520 even when no tax is due. The key questions are who the donor really is, whether the transfer came from a trust, and how the amount should be documented.
→
Form 8621: PFIC Rules for Foreign Mutual Funds and Non-U.S. Investments
Foreign mutual funds, ETFs, and certain non-U.S. holding companies can trigger PFIC rules and Form 8621. The tax cost is often worse than investors expect, and the filing can follow you for years.
→
Form 5471: U.S. Shareholders of Foreign Corporations
U.S. persons who own 10% or more of a foreign corporation must file Form 5471. Here's who qualifies, what's reported, and the penalties for non-compliance.
→