🚨 IRS ALERT — MAY 6, 2026 The IRS released Notice 2026-20 in March — and if you hold crypto on Coinbase, Kraken, or any custodial exchange, this directly affects how your cost basis gets reported. Here's what it means in plain English: Starting with 2026 transactions, brokers are required to report both your gross proceeds AND your adjusted cost basis on Form 1099-DA. But Notice 2026-20 gives taxpayers extended transition relief — meaning you still have time to rely on your OWN records when identifying which lots you're selling, rather than defaulting to your broker's records. Why this matters: → Brokers default to FIFO (first in, first out) — which often triggers the HIGHEST possible tax bill → If you've held BTC or ETH at multiple price levels, choosing HIFO (highest cost first) can legally eliminate tens of thousands in taxable gains → This relief window is temporary — once it closes, your broker's method locks in Action items for right now: 1. Export your complete transaction history from every exchange you use 2. 2. Identify your cost basis method (FIFO, HIFO, LIFO, or specific ID) 3. 3. If you haven't documented your method yet — do it before December 31, 2026 This is one of the most important compliance windows of the year. Don't let it close without acting. Questions? Drop them below or book a free call: calendly.com/samuel-empowercapital/15min — Samuel Oduro, MBA, EA | IRS Enrolled Agent | Former EY & PwC | empowercapital.co

🚨 IRS ALERT — APRIL 16, 2026 A bipartisan bill called the PARITY Act was re-introduced in Congress last month and it could significantly change crypto tax rules for every investor in this community. Here's what's in the bill and what it means for you: • WASH SALE RULES COMING TO CRYPTO — The bill proposes closing the crypto wash sale loophole. Right now, you can sell crypto at a loss and immediately buy it back to claim the tax loss. If this passes, you'd have to wait 30 days before repurchasing, just like stocks. Tax-loss harvesting strategies would need to change. • STAKING REWARDS — POTENTIAL 5-YEAR DEFERRAL — Miners and validators could elect to defer taxes on staking rewards for up to 5 years OR until they sell the asset. If you earn staking income, this is significant relief. • STABLECOINS TREATED LIKE CASH — The bill would create a deemed-basis rule for regulated dollar-pegged stablecoins used for payments. Routine stablecoin transactions (like paying for goods or services) would no longer be taxable events. • WASH SALE TRADEOFF — The bill gives significant relief (staking deferral, stablecoin clarity) in exchange for closing the wash sale loophole. For most long-term investors, this is a net positive. My take as an EA: This bill is still in discussion draft form — it is NOT law yet. But it's bipartisan, which gives it real momentum. If you rely heavily on crypto tax-loss harvesting, now is the time to harvest losses BEFORE this potentially becomes law. Don't wait. Questions? Drop them below 👇 or book a free call: calendly.com/samuel-empowercapital/15min — Samuel Oduro, EA Empower Capital | empowercapital.co

🚨 IRS ALERT — APRIL 15, 2026 (TAX DAY) TODAY is the federal filing deadline for your 2025 crypto taxes. Here's what's different this year that EVERY crypto investor needs to know: • Form 1099-DA is real — this is the FIRST year every centralized broker (Coinbase, Kraken, Bybit, etc.) was required to file this form directly with the IRS for your 2025 transactions. • The IRS already has your data. They received 1099-DA forms BEFORE you filed your return. Every mismatch is now visible to the agency within weeks. • Cost basis reporting is still optional on 2025 forms — many 1099-DAs only show gross proceeds, not your actual gain/loss. You are still responsible for calculating and reporting your correct cost basis on Form 8949. • Starting 2027 (for tax year 2026), brokers MUST report cost basis too. The net is tightening. My take as an EA: If you received a 1099-DA and haven't filed, do it today or file a Form 4868 extension immediately. The IRS has a matched record of your activity. Gaps between what they have and what you report = audit risk. Questions? Drop them below 👇 or book a free call: calendly.com/samuel-empowercapital/15min — Samuel Oduro, EA Empower Capital | empowercapital.co