That IRS headline is making the rounds, and it’s worded pretty boldly
The key words are “proposed reduction”
It’s not a bill that’s been signed into law
It’s not that the penalties have already been cut in half
It’s a proposal / proposed language
The voluntary disclosure route is being brought up again
A lot of people used to get stuck on “If I file late, will the penalties make me cry?”
Now the question is “Am I willing to lay my old accounts bare?”
The sticking point has shifted from “Do I dare?” to “Is it worth it?”
One quick scroll through Square and it’s easy to turn this into “U.S. tax cuts are good news for crypto”
Yeah, that’s a different movie
This only concerns discussion of disclosure penalties
It doesn’t change the math on your positions
I’m not making up an exact percentage here
Until it’s officially announced and finalized
Putting numbers in the post is just digging a hole for myself
Whenever the compliance narrative heats up
$BTC the comments section loves to spin it into “institutions are coming in”
Institutional entry and whether you file back taxes are two separate things
Proposed text can change
The implementation timeline can be delayed
A trending headline won’t read the fine print for you
Don’t overlook the word “proposed”
Compliance news is especially prone to embellishment on Square
And after all that embellishment, it turns into “the positive news is confirmed”
Proposed text can change
The timeline can be delayed
Until the fine print is finalized
Don’t use a trending headline as your tax adviser
The IRS proposal is still just a proposal
But the B100 countdown is really ticking down
Visit my Square profile
Tap “2026 Blockchain Top 100 Creator Awards — Emerging Creator” under my avatar
Deadline: 10/28 23:59 (Beijing time)
One vote per category each day; resets around 08:00
No need to reply after voting
$BTC
#IRS拟降低加密案件税务披露罚款 #IRS #税务 #合规 #BTC
The key words are “proposed reduction”
It’s not a bill that’s been signed into law
It’s not that the penalties have already been cut in half
It’s a proposal / proposed language
The voluntary disclosure route is being brought up again
A lot of people used to get stuck on “If I file late, will the penalties make me cry?”
Now the question is “Am I willing to lay my old accounts bare?”
The sticking point has shifted from “Do I dare?” to “Is it worth it?”
One quick scroll through Square and it’s easy to turn this into “U.S. tax cuts are good news for crypto”
Yeah, that’s a different movie
This only concerns discussion of disclosure penalties
It doesn’t change the math on your positions
I’m not making up an exact percentage here
Until it’s officially announced and finalized
Putting numbers in the post is just digging a hole for myself
Whenever the compliance narrative heats up
$BTC the comments section loves to spin it into “institutions are coming in”
Institutional entry and whether you file back taxes are two separate things
Proposed text can change
The implementation timeline can be delayed
A trending headline won’t read the fine print for you
Don’t overlook the word “proposed”
Compliance news is especially prone to embellishment on Square
And after all that embellishment, it turns into “the positive news is confirmed”
Proposed text can change
The timeline can be delayed
Until the fine print is finalized
Don’t use a trending headline as your tax adviser
The IRS proposal is still just a proposal
But the B100 countdown is really ticking down
Visit my Square profile
Tap “2026 Blockchain Top 100 Creator Awards — Emerging Creator” under my avatar
Deadline: 10/28 23:59 (Beijing time)
One vote per category each day; resets around 08:00
No need to reply after voting
$BTC
#IRS拟降低加密案件税务披露罚款 #IRS #税务 #合规 #BTC