The United States Tax Court has affirmed the IRS’ decision to deny a Maryland couple an installment plan. They state instead that the couple should liquidate their $7 million cryptocurrency holdings to pay off the tax debt.
The couple, Alexander and Laura Strashny, failed to pay their 2017 tax return. As a result, they owe the IRS $1.1 million in unpaid taxes and penalties. In July 2018, they asked the IRS to allow them to pay the debt over a six-year installment plan, or IP.