CoinInsight360.com logo CoinInsight360.com logo
America's Social Casino

Moralis Money
Coin Edition 2025-04-14 10:05:00

CryptoPunk Trader Admits Hiding $13M NFT Profit From IRS, Faces Prison Time

NFT trader Waylon Wilcox failed to report $13M in NFT profits over two years. IRS says he falsely claimed no digital asset transactions. Wilcox faces up to six years in prison and hefty fines. NFT trader Waylon Wilcox has pleaded guilty to underreporting nearly $13 million in profits from trading CryptoPunk NFTs. The Pennsylvania resident now faces up to six years in prison after admitting to filing false tax returns in 2021 and 2022. According to the Federal prosecutors, Wilcox sold 62 CryptoPunk NFTs in 2021, earning around $7.4 million and an additional $4.9 million from 35 sales in 2022. Yet, he reported substantially lower income amounts to the Internal Revenue Service (IRS). Related: No Crypto Tax? White House ‘Czar’ Shoots Down Transaction Fee How False Tax Filings Hid Millions in CryptoPunk Gains In April 2022, Wilcox filed a false return for 2021, underreporting $8.5 million in income and reducing his tax bill by about $2.1 million. In a repeat of his earlier move, Wilcox repeated this underreporting in October 2023. He underreported $4.6 million in income for 2022 and avoided roughly $1.1 million in taxes. According to the U.S. pros… The post CryptoPunk Trader Admits Hiding $13M NFT Profit From IRS, Faces Prison Time appeared first on Coin Edition .

https://www.digistore24.com/redir/325658/ceobig/
Loe lahtiütlusest : Kogu meie veebisaidi, hüperlingitud saitide, seotud rakenduste, foorumite, ajaveebide, sotsiaalmeediakontode ja muude platvormide ("Sait") siin esitatud sisu on mõeldud ainult teie üldiseks teabeks, mis on hangitud kolmandate isikute allikatest. Me ei anna meie sisu osas mingeid garantiisid, sealhulgas täpsust ja ajakohastust, kuid mitte ainult. Ükski meie poolt pakutava sisu osa ei kujuta endast finantsnõustamist, õigusnõustamist ega muud nõustamist, mis on mõeldud teie konkreetseks toetumiseks mis tahes eesmärgil. Mis tahes kasutamine või sõltuvus meie sisust on ainuüksi omal vastutusel ja omal äranägemisel. Enne nende kasutamist peate oma teadustööd läbi viima, analüüsima ja kontrollima oma sisu. Kauplemine on väga riskantne tegevus, mis võib põhjustada suuri kahjusid, palun konsulteerige enne oma otsuse langetamist oma finantsnõustajaga. Meie saidi sisu ei tohi olla pakkumine ega pakkumine