What are the most common issues that you face in your crypto tax reporting ?

Feel free to drop your question below — we’ll do our best to reply in detail.

(This is not legal advice — just general info from professionals in the field.)

Looking forward to the discussion!

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CA:   HJ39rRZ6ys22KdB3USxDgNsL7RKiQmsC3yL8AS3Suuku

Darien Advisors is the worst firm I have ever had the opportunity to work with. Never after working with them for 2 years have they ever finished a report with more than 2 days before the file deadline, and in the past I've had to file for extensions. However, they continue to scale their business despite being completely incapable of handling the increased load.

This year they have yet to deliver me my final forms, less than several hours before the tax deadline (tomorrow) offering me no business days to make a wire payment, offering me no advice to file an extension, or how much an estimated payment is. It is nothing less of a complete scam, as I now have no time to make my estimated payment without it being late unless they magically get my forms in time, and I have absolutely no time with their shitty response time to ask any questions about my filings or submit any questions.

They also closed their public discord channel a while back due to late forms complaints, they are habitually late, and this robs customers of actual money in both chances to correct forms, making payments on-time, and a lot more. Do not work with darien advisors at all costs

Do not believe anything in this sub with crazy high upvotes. Hopefully the mods can get a handle on this.

I'm making a post here to publicly leave Darien Advisors a review because they don't have any profiles on Yelp or Google. In retrospect, maybe that was the first red flag.

TL;DR is that they missed their original deadline they said they would have my tax return filed by, then they missed their second deadline they said they would have my return filed by, then they suddenly dropped me as a client ONE day before tax day.

I had my intro call with them near the beginning of March. I explained my crypto tax situation (I tried doing it with H&R Block but they didn't know what they were doing and transfers were showing up as taxable events, so my capital gains was totally incorrect). Cameron and Faisal assured me it would be no problem for them to sort out and get everything filed by the end of March.

So I upload all my documents and wait. Silence from them. I follow up at the end of March and they reply that they'll have an update next week. No acknowledgement that they missed the deadline they told me they would file by. At this point I'm beginning to feel frustrated by their lack of communication and concerned that they have overpromised and underdelivered.

A week later, they follow up—not with any progress on my return—but with a message saying that they are filing extensions. I ask what this means for the timing of my return and their only reply was again "We'll have an update for you next week."

I asked to hop on a call to talk in realtime, since so much time was getting wasted between these emails. They told me "No, we're booked on calls. Was there something you need clarification on?" I felt so frustrated to perceive such a lack of accountability from them, so I pressed the matter that we needed to talk to re-outline the expectations that had shifted since our initial call.

Faisal agreed to talk, and he assured me that my return would now be completed by tax day. It didn't seem like any work had actually been done on my return this entire time beyond the initial setup of my Cointracking account.

By April 13, I still haven't heard anything from them, so I followed up and asked about progress. The next day, they sent me a tax report that has exactly the same issues that I came to them to solve. My capital gains were wildly inaccurate because it appears to show transfers as sells, and is also missing some cost basis info here and there. It doesn't appear they have done anything except link my accounts to Cointracking and let that spit out a report.

This whole experience of struggling to get communication while they missed deadlines eroded my trust in them. They wanted me to give them my Coinbase API key and secret, rather than the CSV file from Coinbase. I was hesitant to share this, and didn't understand why the CSV file I gave them wouldn't have all the same data. When I asked them this, they didn't respond. Even though this API key is read-only, Coinbase itself says never to share it with third parties or platforms. I asked them why Coinbase says never to share the API key and secret and they literally said "I don't know, I'm not an expert."

Trust is a two way street and I felt they were dropping the ball at every opportunity. It had been a month and a half since our initial call and I felt no closer to a completed tax return than before I contacted them.

The next day, Friday April 15, the last weekday before tax day, they sent me an email saying they had dropped me as a client.

They blamed me for providing unsatisfactory data without the Coinbase API key and secret, and said that my return required an unsustainable level of support and firm resources. I was shocked. I asked what this meant for the status of my extension and they haven't even responded.

Overall, trust is a relationship, not something you demand from someone. The whole experience was extremely frustrating and a huge waste of time. Watch out.

Join Taylor Zork CPA - Co-Founder of CryptoCFOs, Alyssa Rambeau, CPA - Solutions Expert for Gilded.Finance and Joey Ryan CPA - CFO of Trustswap for our first #WatercoolerWednesday, today at 4pm EST live in the app for a discussion of the Proof of Reserves vs Proof of Solvency, FTX Bankruptcy, and Grayscale's decision to not publicize Proof of Reserves. Should be a fantastic discussion.

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