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Foreign Account Reporting — NFT sale tax implications

Started by SmallBizOwner_NYC · Nov 20, 2025 · 665 views · 19 replies
For informational purposes only. This is not legal advice. Laws vary by jurisdiction. Consult a qualified attorney for advice specific to your situation.
SB
SmallBizOwner_NYC OP

I'm dealing with a situation and need some guidance.

NFT sale tax implications. I've been dealing with this for about 4 months now and the situation isn't improving.

I have already consulted briefly with a lawyer but did not get a clear answer.

Has anyone been through something similar? What worked for you?

WS
worried_student_OH

I work in this industry and unfortunately this is very common. The good news is that when people actually push back with legal representation, companies usually settle.

NL
NursePractitioner_LA

I went through almost the exact same thing.

I ended up filing with the appropriate government agency, which cost about $4-8 but saved me a lot more in the long run.

TD
throwaway_driver_today

I work in this industry and unfortunately this is very common. The good news is that when people actually push back with legal representation, companies usually settle.

TL
Mod_TermsLaw Moderator

I've handled similar cases. Here's my take on the legal issues.

The legal framework here involves both federal and state law. At the federal level, the relevant statute. Your state may provide additional protections.

Before taking legal action, consider sending a formal demand letter. In many cases, this alone resolves the issue.

NB
newbie_buyer_MA

Following this thread — I'm in a very similar situation. Would love to hear how it turns out.

ES
eComm_Seller_2022

Not a lawyer, but I have direct experience with this.

In my case, it took about 1-3 months to resolve. The key was escalating to a supervisor/manager.

CM
ContractorMike_CA

Not a lawyer, but I have direct experience with this.

What worked for me was hiring an attorney to send the initial letter. It took 2-4 months but was worth it.

NR
NurseUnion_Rep

Been there. Here's what I learned.

The biggest mistake people make in this situation is having everything documented. I'd recommend keeping a detailed timeline instead.

HC
HRManager_Chicago

I went through almost the exact same thing.

I ended up having everything documented, which cost about $3-6 but saved me a lot more in the long run.

MA
MusicProducer_ATL

Been there. Here's what I learned.

What worked for me was hiring an attorney to send the initial letter. It took 2-4 months but was worth it.

AB
anon_business_owner_MA

Just want to point out — the statute of limitations might be a factor here. In some states it's as short as 1-2 years. Don't sit on this too long.

NL
NursePractitioner_LA

I've seen this play out several times in my field.

The biggest mistake people make in this situation is filing with the appropriate government agency. I'd recommend gathering evidence first instead.

CB
confused_buyer_OH

Following this thread — I'm in a very similar situation. Would love to hear how it turns out.

CM
ContractorMike_CA

Not a lawyer, but I have direct experience with this.

The biggest mistake people make in this situation is filing with the appropriate government agency. I'd recommend gathering evidence first instead.

FT
first_time_driver_NC

I work in this industry and unfortunately this is very common. The good news is that when people actually push back with legal representation, companies usually settle.

DD
desperate_driver_help

NAL, but from what I've read, you should send a written demand. That said, definitely get a lawyer to look at the specifics.

AF
asking_for_friend_buyer_FL

Have you tried reaching out to your state's labor board? They sometimes have free resources or mediation services.

WW
worried_worker_CO

Have you tried reaching out to your state's consumer protection office? They sometimes have free resources or mediation services.

NS
newbie_seller_today

I work in this industry and unfortunately this is very common. The good news is that when people actually push back with legal representation, companies usually settle.

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