Is it possible to get a second tax extension for reporting my cryptocurrency investments?

3 answers

• Dec 17, 2021 · 3 years ago
  Yes, it is possible to get a second tax extension for reporting your cryptocurrency investments. The process for requesting a second extension is similar to the initial extension request. You will need to file Form 4868 for an individual tax return or Form 7004 for a business tax return. Make sure to provide a valid reason for needing the additional extension and submit the form before the original extension deadline. Keep in mind that the IRS may not grant the second extension request if they deem it unnecessary or if you have already been granted a previous extension.
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• Dec 17, 2021 · 3 years ago
  Getting a second tax extension for reporting your cryptocurrency investments is not guaranteed. The IRS generally grants extensions on a case-by-case basis and requires a valid reason for needing additional time. It is recommended to consult with a tax professional or accountant who specializes in cryptocurrency taxation to ensure you meet all the necessary requirements and properly file for an extension if needed.
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• Dec 17, 2021 · 3 years ago
  As an expert in the cryptocurrency industry, I can confirm that it is possible to get a second tax extension for reporting your cryptocurrency investments. However, it is important to note that the IRS may scrutinize your request more closely if you have already been granted a previous extension. It is advisable to consult with a tax professional who is familiar with cryptocurrency taxation to ensure you follow the proper procedures and meet all the necessary requirements for requesting a second extension.
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