Cryptocurrency Tax Help
Real Help For Your Virtual Assets
Confused by all the cryptocurrency tax rules? City Tax can help you file accurately and stay compliant with tax regulations.
Do You Owe Cryptocurrency Taxes?
Millions of people invest in cryptocurrency — and for years, taxes were often overlooked. But that’s changed. Tax authorities are now cracking down on unreported crypto earnings. City Tax can help ensure you stay compliant.
If you participate in any of the following activities, you’ll likely need to report them on your tax return.
- Selling virtual currency
- Mining cryptocurrency
- Being paid in crypto for goods or services
- Trading virtual currencies
- Receiving free tokens from airdrops
- Donating to charity with virtual currency
Speak to a Cryptocurrency Tax Expert Today!
How to Request an Offer in Compromise
If you’ve determined that the Offer in Compromise (OIC) program is the best solution for your situation, it’s important to follow the proper application process to improve your chances of approval. Below are the key steps to apply for the OIC program:
Evaluate Eligibility
Determine your eligibility by reviewing your financial situation and consulting a tax professional to ensure you meet City Tax program requirements.
Gather Documents
Gather all essential financial documents, such as income statements, bank records, tax filings, and expense reports.
Submit Application
Complete the Offer in Compromise (OIC) application (Form 656), include all necessary supporting documents, and submit the required fee or request a waiver if eligible.
After submitting your tax settlement offer, City Tax will carefully review it along with the supporting documents. This evaluation may take several months, so it’s important to remain patient and promptly respond to any additional information requests.
The Offer in Compromise (OIC) application process can be complex and requires a solid understanding of tax laws and regulations. Working with a tax specialist can significantly improve your chances of approval. At City Tax, our experienced tax partners have decades of expertise handling OIC requests. Contact us today to find out if the OIC program is the right solution for your situation!