What if i failed to report crypto mining profits

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???? How To Tax Your Crypto Mining Profits ? ?
Failing to report crypto holdings, trades, and transactions on your tax returns can lead to a hefty penalty or in extreme cases, even criminal charges. Failing to report your cryptocurrency holdings on your taxes can result in a number of penalties, including fines and even jail time. The. Not reporting your mining rewards to the IRS is considered tax evasion, a serious crime with serious consequences. The maximum penalty for tax evasion is 5.