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Bitcoin Mining Profit After 60 Days ??We discuss how to correctly report your crypto mining tax to the ATO for individuals & businesses and the criteria used to differentiate them. Not reporting your mining rewards to the IRS is considered tax evasion, a serious crime with serious consequences. The maximum penalty for tax evasion is 5. Failing to report crypto holdings, trades, and transactions on your tax returns can lead to a hefty penalty or in extreme cases, even criminal charges.
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