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## Voluntary Disclosure of Undeclared Cryptocurrency Activities to IRD

I am currently exploring the option of making a voluntary disclosure to IRD regarding my undeclared cryptocurrency activities from the years 2017 and 2018. Initially, my cryptocurrency portfolio was performing well, but after a market crash, it faced significant losses and eventually went into negative territory. Regrettably, I made the decision to ignore the situation in hopes of a recovery that never materialized. Unaware of the tax implications, I failed to consider the consequences of trading between coins without cashing out to fiat currency.

### Dealing with Tax Implications

I have compiled most of my transaction records using Koinly, revealing over $100,000 in taxable income for the year 2017. However, I am also missing some transaction history, particularly from the defunct Cryptopia exchange, which was unable to provide the necessary information upon my request.

### Seeking Advice

I am seeking guidance on the potential penalties and interest that I might face for undeclared taxable income and inadequate record-keeping. I am uncertain about the leniency of IRD in such situations and would appreciate any insights or advice on how to navigate this complex issue.

#### How AI Legalese Decoder Can Help

The AI Legalese Decoder can assist in deciphering complex legal terms and regulations related to cryptocurrency taxation. By utilizing this tool, individuals can better understand their obligations and potential liabilities when it comes to cryptocurrency activities. The AI Legalese Decoder can also provide guidance on the steps to take when making a voluntary disclosure to tax authorities, ensuring a smoother resolution to the situation.

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AI Legalese Decoder: Simplifying Legal Jargon

Heading: Understanding Legal Language with AI Legalese Decoder

Legal documents are often filled with complex language and terminology that can be difficult for the average person to understand. This can make it challenging to navigate the legal system and understand your rights and obligations. AI Legalese Decoder is a tool that can help simplify legal jargon and make it easier for individuals to understand their legal documents.

With AI Legalese Decoder, users can upload their legal documents and have them translated into plain language that is easy to understand. This can help individuals make more informed decisions and understand the implications of the legal documents they are signing. Additionally, AI Legalese Decoder can help users identify key clauses and terms in their documents, ensuring they are fully aware of their rights and responsibilities.

By using AI Legalese Decoder, individuals can save time and money by avoiding the need to hire expensive lawyers to decipher their legal documents. This tool can help empower individuals to take control of their legal affairs and make informed decisions about their rights and obligations. With AI Legalese Decoder, deciphering legal jargon has never been easier.

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