Is the US tax season different this time around? With the 18 April deadline looming, many are asking if the inclusion of cryptos has significantly changed things. The tax filing season in the US usually lasts between January 24, when the IRS begins accepting and processing returns for the previous year, and April 15, when the Tax season is underway in the U.S. However, the 18 April deadline is the one to watch in 2024 as Tax filings are going in full swing in the US, and for the first time in three years, the scheduled deadline [18 April] is set to be met.

Crypto Taxes: The New Reality

This year, the biggest difference lies in the increased scrutiny of digital assets. If you traded, received, or made money from digital assets between January 1 and December, you must report it to the IRS WASHINGTONThe Internal Revenue Service today reminded taxpayers that they must again answer a digital asset question and report all digital asset related income. This means even small crypto transactions need to be carefully documented. Stay ahead this tax season with our guide to cryptocurrency tax deadlines. Find out key dates, filing tips, and avoid penalties with CryptoTaxAudit's expert advice. Essential for crypto investors.

Key Crypto Tax Deadlines and Extensions

In the US, the crypto tax deadline is April 18 (adjusting for weekends and holidays). In 2025, if investors file for an extension, they can submit their crypto taxes by October 15. Don't miss these critical dates! Understanding these deadlines is crucial for avoiding penalties and ensuring compliance.

Navigating Crypto Tax Complexity

The inclusion of cryptocurrency complicates the filing process for many. Be sure to gather all relevant transaction data, understand the different types of crypto income (e.g., staking rewards, airdrops, mining), and correctly report your capital gains or losses. The 18 April deadline applies to your crypto tax obligations just as it does to traditional income.