Matt Metras 🍕 cryptotaxpro.eth

I recently had the opportunity to talk cryptocurrency taxation with @USATODAY. Check it out here: usatoday.com/videos/money/2…

@ForemanTaxLaw When did I say it was. It's gonna be a shit show since the brokers will also be reporting basis

@EmDeeEm this isn't very exciting, Matthew

New IRS Guidance out today: Notice 2026-20. Effectively just extends the temporary relief of N 25-7 for another year. irs.gov/pub/irs-drop/n…

@ForemanTaxLaw It's probably for the best that you don't have one. It would suck you into its self-perpetuating dumpster fire

@EmDeeEm If I had a reddit account, I would back you up, but there's case law on this and boy howdy HIFO is not a thing

When people ask why I don't let clients use this particular software, here's one (of many) reasons.

@ForemanTaxLaw @CoinTracker I thought you would enjoy this one.

I'm not saying that @CoinTracker is giving advice that could be wrong. I'm saying that CoinTracker is giving advice that is wrong and directly contrary to the stated law, but they're too stupid/uninformed to figure it out. HIFO is not an accounting method, at least not for tax.

@jamescryptoCPA @0xcryptotax @krakenfx I'm impressed he even MN managed to get a 1099 from kraken

@0xcryptotax It was a simple 1099 from @krakenfx , no other wallets or exchanges. Disengaged totally with his old CPA

First time seeing this happen. Just had someone contact me because he disengaged with his CPA for not knowing what to do with a #1099DA (1 CEX). Interested to see if this becomes a thing. #taxtwitter #cryptotax

@GOPMajorityWhip @DHSgov I guess you should have thought about that before ICE decided the law doesn't apply to them... 🤷

300+ TSA officers have quit since the start of the Democrat shutdown of @DHSgov. And can you blame them? Democrats are playing political GAMES while these TSA officers struggle to put food on the table for their families. It’s CRUEL, it’s WRONG, and it's time for this to END.

@NonFungibleCats @tweetellington @IraGilligan

@tweetellington @EmDeeEm @IraGilligan The issue is between the chair and the computer screen, not the software.

Just a PSA: I have not had a single client who did their own crypto 8949 with software provide an accurate 8949 yet this year.

@TGorcz No one likes c corps. Double taxation is too scary

There is no way to know what entity for tax purposes is best without an individual analysis. Plenty of people with $120k+ of profit are best as a SP due to §199A and/or reasonable compensation levels. And the C corporation is always ignored…

Nina Olson, who is on the board for the Center for Taxpayer Rights, sent mystery shoppers to 53 non-credentialed preparer sites across six states during the 2025 filing season. The results were terrible. The vast majority of returns had incorrect filing statuses, wrong credit amounts, fabricated deductions, or unreported cash income. Refund amounts were wildly off. Preparers routinely failed to ask basic questions about household composition and income, and even when they did, they got the law wrong. Meanwhile, the IRS rarely penalizes bad preparers and collects less than 19% of the penalties it assesses. The report's core recommendation: Congress needs to finally authorize the IRS to require minimum competency testing and continuing education for non-credentialed preparers. This is worth a read! Thanks to @TGorcz for sharing the report. #TaxTwitter #EA #CPA #Taxes taxpayer-rights.org/wp-content/upl…

@markgadala They were super up front about it. Since the ingress days

This is wild. 143 million people thought they were catching Pokémon. They were actually building one of the largest real-world visual datasets in AI history. Niantic just disclosed that photos and AR scans collected through Pokémon Go have produced a dataset of over 30 billion real-world images. The company is now using that data to power visual navigation AI for delivery robots. Players didn't just walk around with their phones. They scanned landmarks, storefronts, parks, and sidewalks from every angle, at every time of day, in lighting and weather conditions that staged photography would never capture. They documented the physical world at a scale no mapping company with a fleet of vehicles could have replicated on the same timeline or budget. Niantic collected this systematically, data point by data point, across eight years, while users thought the only thing at stake was catching a rare Charizard. The most valuable AI training datasets in the world aren't being assembled in data centers. They're being built by people who have no idea they're building them.

@ForemanTaxLaw My mom thinks so too

@EmDeeEm that's disapponting

Even *I* know this.

@adammarkowitzEA Why not go with her? I went to London last month. It can be done.

It's Spring Break, which can mean only one thing: My wife is leaving on a cruise for the next 6 days while I get to stay at home and do tax returns. #TaxTwitter

@JWellsTax @cordes_tax @mountainwesttax @AccountingAsArt NFTs are so 5 years ago

@cordes_tax @mountainwesttax @AccountingAsArt @EmDeeEm How do I make this an NFT? Are we still doing that?

It's time!!! #FridayWins!! NO WIN TOO SMALL!!! Let's hear what you're up to! - I have one extension left to file before Monday! - We have lemon bars from one of B's patients who is an AMAZING baker!! - Being snowed in means WFH and NO HARD PANTS!!!

@ForemanTaxLaw WHY DO YOU HATE INNOVATION?

A rant on crypto. It appears that the CryptoBros have seen a recent Information Document Request (IDR) from the IRS and are losing their minds. Friends, this is hilarious, predictable, and consistent with previous behavior. Let's discuss it. 1/

Tax pros: it really isn’t that hard to say “spouses” instead of “husband/wife”… it’s been 13 years now

@accounting Etherdelta? Damn this list is old. Classic irs

We just obtained a NEW form the IRS is sending in crypto audits. It lists 100+ exchanges: Coinbase, Binance, Kraken, FTX, Mt. Gox AND self-custody wallets like MetaMask, Ledger, and Trezor. You have to check YES or NO for EVERY SINGLE ONE. Then sign it. Under penalties of PERJURY. The IRS isnt auditing your trades in a single year. They want a COMPLETE MAP of everywhere your crypto has ever been, going back YEARS. Forget a platform you used once in 2017? That’s a problem. Disclose too many? You just opened new lines of inquiry. Don’t respond at all? They’ll issue a summons. This is a trap dressed up as paperwork. DO NOT sign this form without a crypto tax attorney. We’re watching this closely. More analysis coming on our blog.

The IRS, in its new version of the Form 1040 instructions, changed the calculation of the qualified tips deduction for non-employees. Read all about it in today's Tom Talks Taxes article: tomtalkstaxes.com/p/irs-quietly-…