Haven't Filed Your Crypto Taxes?
You're not alone — and it's not too late. Millions of crypto holders have unfiled returns. Here's what actually happens, what you should do, and why acting now matters more than ever.
The Most Important Thing to Know
Every tax authority on Earth treats voluntary disclosure dramatically better than getting caught. Coming forward isn't just an option — it's the smartest financial decision you can make right now. Penalties drop by 50-90% when you act first.
Find Your Situation
Different situations call for different approaches. Pick the one that sounds most like you.
You traded crypto, maybe did some swaps, but genuinely didn’t know it was taxable. You’ve never been contacted by your tax authority.
This is the most common situation. Most crypto holders didn’t realise swaps, staking, or spending crypto were taxable events.
If you come forward before your tax authority contacts you, penalties are typically at their lowest — sometimes as low as 10% of tax owed.
In most jurisdictions, honest mistakes are treated very differently from deliberate evasion. The key factor is whether you acted voluntarily.
Penalties: Voluntary vs. Getting Caught
The difference between coming forward and being found is enormous. Every jurisdiction rewards voluntary action.
Common Fears (and Reality)
Criminal prosecution for crypto tax is extremely rare and reserved for deliberate, large-scale evasion. The Ahlgren case (US, $4M unreported) was the first crypto-only prosecution ever. If you’re reading this page, you’re almost certainly in ‘honest mistake’ or ‘careless’ territory — which is resolved with penalties and amended returns, not handcuffs.
Many traders overestimate what they owe. Crypto markets had massive downturns in 2018 and 2022 — those losses offset gains. Tax software often shows inflated numbers because of missing cost basis data. Proper reconciliation frequently reduces the bill significantly. Most tax authorities also offer payment plans.
We fix messy records for a living. Blockchain data is permanent — even if an exchange shut down, your transactions are on-chain. Between blockchain explorers, archived exchange exports, email confirmations, and bank statements, most histories can be reconstructed. Perfect records aren’t required — reasonable reconstruction with consistent methodology is accepted.
This was a more defensible position before January 2026. With CARF/DAC8 now live, your exchange data is being systematically reported. Staying quiet means waiting for a letter that’ll come with higher penalties than if you’d acted first. The maths is simple: voluntary disclosure now costs less than investigation later.
If you ever used a centralised exchange to buy or sell, they have your data and are reporting it. Blockchain analytics firms link wallet addresses to identities. And under DAC8, even withdrawals to self-custody wallets are reported by exchanges with the transfer value.
Ready to Sort This Out?
We specialise in complex crypto tax situations — years of unfiled returns, messy data, DeFi chaos. We reconcile it, calculate it, and deliver tax-ready reports.
Fixed pricing from $335. No hourly billing. No surprises.
Get a Quote →This information is for general guidance only, not tax or legal advice. Penalty amounts and lookback periods are subject to change. Always consult a qualified tax professional for your specific situation.