NFT trader faces up to six years in prison for filing false CryptoPunks profits on tax returns

Odaily News The U.S. Attorney's Office for the Middle District of Pennsylvania revealed that Waylon Wilcox, a 45-year-old NFT trader, pleaded guilty to two charges of filing false personal income tax returns. The trader sold 62 CryptoPunk NFTs in 2021, earning approximately $7.4 million in profits, and then sold another 35 CryptoPunk NFTs in 2022, making a profit of $4.9 million.
It is reported that Waylon Wilco submitted a false personal income tax return for the 2021 tax year in April 2022, underreporting about $8.5 million in income tax and about $2.1 million in taxes payable; in October 2023, Waylon Wilco submitted a false personal income tax return for the 2022 fiscal year, underreporting about $4.6 million in income tax and nearly $1.1 million in taxes payable. (Cointelegraph)