Stephen J. Venuti, CPA, MST, LLC

10/30/2026

𝗪𝗵𝗮𝘁 𝘀𝗵𝗼𝘂𝗹𝗱 𝗜 𝗱𝗼 𝗶𝗳 𝗜 𝗳𝗼𝗿𝗴𝗼𝘁 𝘁𝗼 𝗿𝗲𝗽𝗼𝗿𝘁 𝗰𝗿𝘆𝗽𝘁𝗼𝗰𝘂𝗿𝗿𝗲𝗻𝗰𝘆 𝘁𝗿𝗮𝗻𝘀𝗮𝗰𝘁𝗶𝗼𝗻𝘀 𝗼𝗻 𝗽𝗿𝗲𝘃𝗶𝗼𝘂𝘀 𝘁𝗮𝘅 𝗿𝗲𝘁𝘂𝗿𝗻𝘀?

If you forgot to report some cryptocurrency, start by figuring out which transactions were actually taxable and whether you owe additional taxes.

1. Moving crypto between wallets you own doesn't, by itself, create a taxable sale.
2. Selling cryptocurrency can create a taxable gain or loss.
3. Exchanging one cryptocurrency for another can also create a taxable gain or loss, even if you never received cash.

Once that's clear, you need to determine what's happening with your reporting.

That starts by comparing your exchange and wallet history transactions against your previously filed returns.

If you checked “no” on Form 1040 in a year when you sold or exchanged cryptocurrency when you should have checked "yes," an amended return needs to be filed.

Comment 𝗖𝗥𝗬𝗣𝗧𝗢 if you want help getting your crypto tax situation sorted.

10/30/2026

Unreported Crypto Gains? How Newtown Square Taxpayers Can Fix Past Tax Returns

Missed crypto gains on past tax returns? Learn how to calculate your actual gains, correct earlier filings, and address IRS 1099-DA reporting.

10/29/2026

What's scarier than Halloween? An IRS tax bill that keeps growing while you're afraid to open the notices…

If you can't afford to pay your balance, log in to your IRS online account and check what you owe, including penalties and interest.

Then see if you qualify to apply online for an installment agreement. You may be able to pay the balance in monthly payments instead of all at once.

𝘞𝘩𝘢𝘵'𝘴 𝘰𝘯𝘦 𝘵𝘩𝘪𝘯𝘨 𝘢𝘣𝘰𝘶𝘵 𝘐𝘙𝘚 𝘱𝘢𝘺𝘮𝘦𝘯𝘵 𝘱𝘭𝘢𝘯𝘴 𝘺𝘰𝘶'𝘥 𝘭𝘪𝘬𝘦 𝘶𝘴 𝘵𝘰 𝘦𝘹𝘱𝘭𝘢𝘪𝘯?

10/28/2026

𝗪𝗵𝘆 𝗱𝗼𝗲𝘀 𝗺𝘆 𝗰𝗿𝘆𝗽𝘁𝗼 𝘁𝗮𝘅 𝗳𝗼𝗿𝗺 𝘀𝗵𝗼𝘄 $𝟮𝟬𝟬,𝟬𝟬𝟬 𝗶𝗻 𝘀𝗮𝗹𝗲𝘀 𝘄𝗵𝗲𝗻 𝗜 𝗼𝗻𝗹𝘆 𝗺𝗮𝗱𝗲 $𝟭𝟬,𝟬𝟬𝟬?

Because Form 1099-DA can show your total sales without showing what you originally paid.

Let's say you bought Bitcoin for $190,000 and sold it for $200,000. Your taxable gain is $10,000, not $200,000.

But if you bought it on Coinbase and sold it on Kraken, Kraken may not know your original purchase price. And that information may be missing from the form sent to the IRS.

Here's what I'd recommend:
1. Download your transaction histories from every exchange and wallet you've used.
2. Match your sales to their original purchase prices and qualifying fees.
3. Compare your calculations with what's reported on Form 1099-DA.

Missing purchase records? We can help trace your transactions and calculate your actual gains before you respond to an IRS inquiry.

10/28/2026

Stephen J. Venuti, CPA, MST, LLC's Guide: Can You Give Employees Tax Free Bonuses for the Holidays?

Can you give employees tax-free bonuses before year-end? Learn IRS rules on cash gifts and how to use de minimis perks and gross-ups legally.

10/27/2026

Could inflation actually work in your favor when it comes to your taxes?

Some parts of the tax code adjust for inflation every year, while others don't. And those differences could affect your 2026 tax bill in ways you wouldn't expect.

https://www.kiplinger.com/taxes/604977/inflation-and-taxes

10/26/2026

𝗖𝗮𝗻 𝗳𝗶𝗹𝗶𝗻𝗴 𝗮𝗻 𝗢𝗳𝗳𝗲𝗿 𝗶𝗻 𝗖𝗼𝗺𝗽𝗿𝗼𝗺𝗶𝘀𝗲 𝗮𝗰𝘁𝘂𝗮𝗹𝗹𝘆 𝗴𝗶𝘃𝗲 𝘁𝗵𝗲 𝗜𝗥𝗦 𝗺𝗼𝗿𝗲 𝘁𝗶𝗺𝗲 𝘁𝗼 𝗰𝗼𝗹𝗹𝗲𝗰𝘁 𝗺𝘆 𝘁𝗮𝘅 𝗱𝗲𝗯𝘁?

Yes, when you submit an Offer in Compromise and it's pending, the IRS collection clock stops running.

Here's why that matters… The IRS has 10 years from the date your tax debt was assessed to collect it. That deadline is called the Collection Statute Expiration Date (CSED).

But when your settlement offer is pending, that 10-year clock is suspended.

So, if the IRS spends months reviewing your offer and ultimately rejects it, you've extended the amount of time the agency has to pursue collection.

You could also lose money on the application fee and initial payment without getting the debt settled.

If you're considering an Offer in Compromise, reach out before filing. We can review your IRS account history and determine whether an offer makes sense for your situation.

10/23/2026

𝗪𝗵𝗮𝘁 𝗶𝘀 𝗼𝗻𝗲 𝗺𝗼𝗻𝗲𝘆 𝗺𝗼𝘃𝗲 𝘆𝗼𝘂 𝘄𝗶𝘀𝗵 𝘆𝗼𝘂 𝗰𝗼𝘂𝗹𝗱 𝘁𝗮𝗸𝗲 𝗯𝗮𝗰𝗸?

It's probably on this list of spending decisions that haunt Americans long after Halloween.

https://www.nerdwallet.com/finance/studies/2026-financial-regrets-study

10/22/2026

𝗖𝗮𝗻 𝗖𝗵𝗮𝘁𝗚𝗣𝗧 𝗰𝗮𝗹𝗰𝘂𝗹𝗮𝘁𝗲 𝗵𝗼𝘄 𝗺𝘂𝗰𝗵 𝗜 𝘀𝗵𝗼𝘂𝗹𝗱 𝗼𝗳𝗳𝗲𝗿 𝘁𝗵𝗲 𝗜𝗥𝗦 𝘁𝗼 𝘀𝗲𝘁𝘁𝗹𝗲 𝗺𝘆 𝘁𝗮𝘅 𝗱𝗲𝗯𝘁?

It can give you an estimate, but that number could be quite different from what the IRS would actually consider.

Why? Let's say you have a $1,200 monthly car payment.

You tell ChatGPT your income and expenses, and it subtracts that entire $1,200 when calculating how much you can afford to pay the IRS.

But the IRS has its own allowable living expense standards. It may only recognize a portion of that car payment unless you can document why an exception applies.

That difference affects your disposable income, which is part of how the IRS determines whether to accept an Offer in Compromise.

And a settlement offer based on the wrong numbers could mean paying an application fee and initial payment without resolving your tax debt.

Thinking about an IRS settlement? 𝗖𝗼𝗺𝗺𝗲𝗻𝘁 𝗢𝗙𝗙𝗘𝗥 𝗯𝗲𝗹𝗼𝘄. We'll review your actual allowable expenses and calculate a realistic settlement number the IRS is likely to approve.

10/21/2026

𝗖𝗮𝗻 𝗖𝗵𝗮𝘁𝗚𝗣𝗧 𝗮𝗰𝗰𝘂𝗿𝗮𝘁𝗲𝗹𝘆 𝗰𝗮𝗹𝗰𝘂𝗹𝗮𝘁𝗲 𝗺𝘆 𝗜𝗥𝗦 𝘀𝗲𝘁𝘁𝗹𝗲𝗺𝗲𝗻𝘁 𝗶𝗳 𝗜 𝗼𝘄𝗻 𝗮 𝗵𝗼𝗺𝗲 𝘄𝗶𝘁𝗵 𝗮 𝘀𝗽𝗼𝘂𝘀𝗲 𝘄𝗵𝗼 𝗱𝗼𝗲𝘀𝗻'𝘁 𝗼𝘄𝗲 𝘁𝗵𝗲 𝘁𝗮𝘅 𝗱𝗲𝗯𝘁?

ChatGPT usually defaults to basic math (dividing your equity in half), but figuring out how much home equity the IRS can actually count toward your settlement is far more complex.

An AI tool can't accurately calculate this because it can't evaluate:
1. Your actual mortgage balance and payoff terms
2. Priority liens filed against the property
3. How your deed is titled and your spouse's legal ownership interest
4. IRS-specific valuation rules (like the Quick Sale Value discount)
5. State property laws governing marital assets (such as Tenancy by the Entirety or Community Property)

Those details matter because the IRS uses strict formulas to determine available equity.

If ChatGPT gets your available equity wrong, you could submit an offer the IRS rejects outright. Or worse, offer thousands of dollars more than the IRS is legally entitled to collect.

An AI chatbot can't read your deed or verify county records. When I review a potential settlement, I analyze the actual property and lien records before determining what equity should legally count.

If you're considering an IRS settlement and own property with a spouse who doesn't owe the tax debt, comment 𝗘𝗤𝗨𝗜𝗧𝗬 below. We can review how your ownership and property equity will actually affect the amount you offer the IRS.