People are saving $60,000 on Bitcoin taxes with one IRS notice.

The first time I heard that I rolled my eyes. Specially when I first saw IRS Notice 2025-7 land in my feed.

Another crypto regulation to decode, I thought. But after spending way too much time with my morning coffee reading through it, I actually found myself smiling.

Let me share why this is actually good news.

The IRS is basically saying "take it easy" to crypto exchanges and traders until 2025. Remember that rule about picking specific coins before trading? They're putting that on pause.

The best part?

No need to jump through extra hoops with your exchange. For those watching Bitcoin's latest moves, this could mean keeping up to 80% more in your pocket come tax time.

Now for the reality check - starting 2025, you'll need to track each wallet separately. No more treating all your crypto like one big pool. Think of it like having different bank accounts - you need to know exactly what's in each one.

And that is actually tricky if you have dozens of wallets like most degens out here.

Here's a real-world example that made me laugh: Say you've got 1 BTC split between two wallets, each bought at $40,000. Depending on how you count your trades throughout the year, your taxable gain could swing from $60,000 to $10,000. That's the difference between a brand new car and a used bicycle! (well maybe 10 bikes)

These changes matter. Start planning your crypto tax strategy now.

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