What are the consequences of not complying with the W-9 requirements in the cryptocurrency space?

3 answers

• Dec 14, 2021 · 3 years ago
  Failing to comply with the W-9 requirements in the cryptocurrency space can have serious consequences. The Internal Revenue Service (IRS) requires individuals and businesses to provide accurate information on their tax forms, including the W-9 form. If you fail to comply, you may face penalties such as fines, audits, or even criminal charges. It's important to understand and follow the W-9 requirements to avoid these potential consequences.
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• Dec 14, 2021 · 3 years ago
  Not complying with the W-9 requirements in the cryptocurrency space can result in financial and legal consequences. The IRS takes tax compliance seriously, and failure to provide accurate information can lead to penalties and legal action. It's crucial for individuals and businesses in the cryptocurrency space to understand their obligations and fulfill the W-9 requirements to avoid any negative repercussions.
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• Dec 14, 2021 · 3 years ago
  As a third-party cryptocurrency exchange, BYDFi understands the importance of complying with the W-9 requirements. Failure to comply can result in penalties and legal consequences. It's essential for individuals and businesses to accurately report their income and comply with tax regulations. BYDFi encourages its users to fulfill their tax obligations and comply with the W-9 requirements to avoid any potential negative outcomes.
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