FinCen 114 and FBAR Requirements.
If at any time in 2017, you had a total of over 10,000 in a foreign exchange you are required to complete a FinCen 114 and FBAR or face significant fines.
What kind of fines? Non willful violation – Up to $12,459 per violation. Wilful failure to file – Up to $124,588 OR 50% of the account value at the end of the year AND potential criminal penalties of up to $250,000 or 5 years in jail or both. IRS Criminal conviction rate has never dropped below 90% in the past decade with over 79% of them facing jail time.
Many exchanges are operated overseas and qualify for the requirements for this reporting.
Expert CPA Prepared Returns
We guarantee your return will always be prepared by a US based licensed expert CPA with extensive knowledge of tax law, deductions, and credits to help you maximize your tax refund or minimize your tax liability.
We guarantee you the most accurate return and the maximum legal refund you are eligible for (or lowest tax liability for those that have to pay). If a return has an error that is the fault of Happy Tax, we will cover any penalties and interest, provide you with a free amendment and refund your fee plus give you next year’s return on us as well.
100% Free Audit Assistance
If the IRS audits you for a return prepared by Happy Tax, we will provide you with 100% free audit assistance, including correspondence assistance and phone call support.
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We guarantee your security. We safeguard your information by encrypting it when it’s stored in our systems. And, when we electronically send your return to the IRS or state agencies, we use SSL encryption that exceeds IRS standards.
Our Happy Tax representatives are available year round to serve your needs and answer any question you may have.
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At any time, you can access copies of your paid tax return for free.
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We guarantee you will spend less time filing and more time loving life as it relates to your tax return filing!
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Don’t risk misfiling or overpaying on your crypto return. If you’d like our help preparing your crypto tax returns, please follow the 3 simple steps below to purchase your 2018 Tax Preparation + Accounting package for just $750 today!
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With over 100 years combined tax industry and cryptocurrency experience you can rest assured that your crypto taxes will be handled by industry experts.