Legal Opinions for Crypto Tax Issues

We understand the unique challenges that come with crypto tax issues, and we are committed to providing our clients with the expertise and guidance they need to comply with tax regulations and avoid penalties.

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Digital Asset Tax Opinion Letters 

Our firm is expert in defensible legal arguments and opinion letters for digital assets. The Tax Opinion Letters prepared by our tax and legal professionals consider current tax code, legal arguments, and pertinent authorities of digital asset tax issues for analysis to present an even-handed assessment for different types of digital asset activities.

We prepare Tax Opinion Letters supporting unique tax positions  for the following activities:

  • Single Asset Staking
  • Digital Asset Mining
  • Digital Asset Validating
  • Liquidity Pool Enters / Exits
  • Digital Asset Wrapping / Bridging


What's a Legal Opinion?

A legal tax opinion is a form of written legal advice to a client. It is often used to give a level of professional certainty to transactions with unclear tax outcomes.

When would I need a Legal Opinion?

In the digital asset space, a legal tax opinion could be helpful in any transaction where there is not clarity from the Internal Revenue Code and regulations about the tax outcome of a transaction. We find that this happens often with digital asset transactions, as they are unique types of transactions that do not have many analogies in the non-digital world.

Does a Legal Opinion increase my chances of being audited?

You would not provide the legal opinion to the IRS or file it with your return. Instead you would keep it for yourself to be able to prove that you received legal advice about the tax outcome of a certain transaction. In that sense, having a legal opinion would not increase your chance of being audited. On the other hand, any time you take a tax position that reduces your current tax (including simple things like deductions) you likely increase your chance of being audited. Similarly, for some of the legal opinions we write, given the uncertainty of the position we recommend that clients disclose the position on their tax return. This is decided individually for each client.

How does a Legal Opinion help me in the event of an audit?

A legal tax opinion is written legal advice. One of the questions that the IRS or tax court often wants to know is whether the taxpayer relied on professional or legal advice in deciding to take a certain position. The legal opinion would be evidence of that advice.

Will you represent me in the event of an audit?

Yes, we are happy to represent a client in the case of an audit. We would have a separate engagement for any audit work.

Can I have my own attorney write this legal opinion?

Yes, any tax lawyer is technically capable of writing a legal tax opinion. You will want to make sure your lawyer understands the intricacies of digital asset transactions before writing an opinion. We are a hybrid law firm that works with experts in the digital asset space to ensure that our opinions match the reality of the situation.

Can I sell/share my Legal Opinion with others?

No. The legal advice you receive is just for you. If you have friends who have participated in the same or similar transactions, they will likely be good candidates for their own opinion, but the opinion is only advice to a single client.

How long is my opinion valid?

The legal opinion should remain valid as long as the facts of the transaction do not change.

How much does an opinion cost?

Legal tax opinions that we write in the digital asset space often cost between $10,000-$25,000.

How long does it take to get my opinion?

We are usually able to write an opinion within one week of receiving all the information from you.

What do I do with my opinion once I have it?

Keep it for yourself. It is proof that you received legal advice about the position. In an audit it may be useful to provide it to the IRS, but that will depend on the circumstances.

Do I need to disclose that I have a Legal Opinion?

No. We may recommend that you make a disclosure of the position you are taking when you file your return, but that depends on the circumstances. 

Will you help me file my taxes?

Yes, we are happy to help you file your taxes. We are happy to either work with your CPA or give you a referral to a CPA that can file for you.

Will you help me prepare my transactions to reflect my new legal position?

Yes, we work with a sister company, Moontax to reconcile your transactions to reflect the position you are taking.

How does your tool verify I am eligible for an opinion?

The tool reviews public transactions in your wallet and identifies transactions for which we have written opinions in the past. We still need to verify with you, and you still need to become a client of the law firm prior to receiving any legal advice, but we can help you know if you have participated in transactions for which we have written legal opinions in the past. 

Still have questions?

Please reach out with any questions!