As cryptocurrencies continue crashing down, unsuspecting investors are getting slapped with hefty tax bills they just can’t afford

 “I just discovered that I owe the IRS $50k that I don’t have, because I traded in cryptos. Am I fucked?”, wrote they had ended up with a $50,000 tax liability on trades after they sold $120,000 worth of bitcoin to buy different coins. The current value of those coins is about $30,000. 

“I feel like I might have accidentally ruined my life because I didn’t know about the taxes,” the poster wrote.