The IRS Is Watching: Is Your Crypto Audit-Ready?
From The Richer Geek by Mike Stohler
January 7, 2026 · 26 min
About this episode
Janna Scott discusses the risks of inaccurate tax reporting for crypto investors and the implications of IRS audits.
Happy New Year and welcome back to another episode of The Richer Geek Podcast. Today, we are joined by Janna Scott, founder of DeFi Tax, to talk about one of the biggest risks crypto investors face today: inaccurate tax reporting. Janna explains why most crypto tax software is unreliable, how IRS audits really work, and what happens when reported numbers don't match blockchain data. She shares how her research exposed major gaps in the system and why both individuals and businesses need audit-ready crypto records. In this episode, we chat about… The Software Variance Problem: Janna tested 14 different crypto tax products and found that every single one gave a different outcome, with variances ranging from 30% to 120%. IRS Audit Pause: After meeting with Janna and reviewing her research, the IRS admitted their data collection methods were wrong and temporarily stopped crypto audits in 2023. The $146 Billion Tax Gap: The IRS has missed out on an estimated $146 billion in tax collection, leading to a new wave of audits with no statute of limitations if they consider the errors to be tax evasion. Risk of Data Manipulation: Many popular crypto products allow users to manually change…
People in this episode
Host: Mike Stohler
Guest: Janna Scott
Topics covered
- crypto tax reporting
- IRS audits
- crypto investors
- tax software reliability
- audit-ready records
- tax evasion
Keywords
- crypto tax
- IRS audit
- tax reporting
- DeFi Tax
- crypto software
- tax gap
- data manipulation
- audit-ready
- blockchain data
Mentioned in this episode
Organizations: DeFi Tax, IRS
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