Jenkens Josinvil

crypto enthusiast| Crypto tax| Tax Accountant| Book for a free tax quote

[Jenkens Josinvil @jynxthemadstc]

People are hoarding cash and stuffing it into wherever they can for it to be able to hold its value. Because their are aware of the inflation that we’re experiencing. So the velocity of money is at an all time low. We have to pick that up. So we need to be able to drive the velocity of money without reducing interest rates. And to be able to do reduce M2 money supply globally. And the only way they are going to be able to do that is by tokenizing everything and moving it onto the blockchain with stable coins.

[Jenkens Josinvil @jynxthemadstc]

@BitcoinNewsCom DOES USDT IMPLODE? Hmmmmm…

[Blockchain Backer @BCBacker]

It’s looking like it’s gonna flip on…

[Jenkens Josinvil @jynxthemadstc]

@TheCryptoSquire They gonna say “bitcoin doesn’t need a figure to represent them” 😂

[Jenkens Josinvil @jynxthemadstc]

What took place
Wednesday August 19th, 2026 at the White House wasn’t just by happenstance. We witnessed trump introduced CEO’s that will reshape the new global financial system. We’re talking about the modern day Vanderbilts, and Rockefellers. And now we get an opportunity to be apart of a revolution. To get a front seat at the table. This is a once in a lifetime opportunity for generations. You either get with it, or get left behind.

[Jenkens Josinvil @jynxthemadstc]

@AssetsDaily We are literally watching the modern day jd rockerfellers, and the Vanderbilts of finance.
I don’t think people realize this! What a time to be alive!

[Eleanor Terrett @EleanorTerrett]

You can watch the meeting here:

[Jenkens Josinvil @jynxthemadstc]

🙏🏾

[Brad Garlinghouse @bgarlinghouse]

Great to be back at the White House today alongside @realDonaldTrump, @SECPaulSAtkins, @ChairmanSelig and leaders across the crypto industry.

The big picture has never been clearer: 67 million Americans hold crypto today (that’s nearly 1 in 4!). Crypto isn't a fringe industry. And Washington DC knows the crypto voter is alive and well.

This President's incredible commitment to innovation and leadership around digital assets in the US has been profound. The future is bright.

[Jenkens Josinvil @jynxthemadstc]

@narrativeflow_ @CoinMarketCap 😂😂😂😂

[Jenkens Josinvil @jynxthemadstc]

The digital asset class was birth for one reason. And it’s the U.S. 💵 because it’s under real stress With the over printing and the $40 trillion dollar debt. And let me remind you the dollar is already digital. Taking the serial number that’s on the dollar and putting it on your phone and getting rid of paper. And what we are really talking about when it comes to digital assets like XRP. Eventually at some point in the future, that asset gets enough liquidity on chain it can underpin the very dollar that we’re looking to preserve in dominance of in the new digital world. That’ll be when the petrodollar finally starts to dissolve and we do see a true tier one asset.

[Jenkens Josinvil @jynxthemadstc]

Here are my advices that I would give for individuals who owe the IRS and didn’t file this years taxes.

*For 1, File first — the failure-to-file penalty is much worse than the failure-to-pay penalty.

Here are the stats!

Failure-to-file: 5% of the unpaid tax per month (or part of a month), max 25%.
• Failure-to-pay: 0.5% per month, max 25%.
• When both apply in the same month, the combined rate is generally 5%.
• For returns more than 60 days late (returns required in 2026), there’s a minimum failure-to-file penalty of $525 or 100% of the tax owed, whichever is less.
Filing stops the higher 5% clock from continuing to run.

2. The IRS may file a Substitute for Return (SFR) for you. This where things can get funky!

‼️If you don’t file, the IRS can prepare one based only on income reported to them (W-2s, 1099s, etc.). It usually uses the least favorable filing status, gives only the standard deduction, and ignores most deductions, credits, or expenses you’re entitled to. The resulting bill is almost always higher. You can still file your own return later to replace it and usually lower the balance.

3. You generally only need the most recent 6 years

-IRS policy typically considers you back in compliance once you’ve filed the current year plus the prior five (six years total). Older years matter less for most people unless there’s fraud or very high income.

4. Payment options once you’ve filed
• Short-term plan: Up to 180 days if you owe under $100,000 (combined tax + penalties + interest).

• Installment agreement: Monthly payments. For individuals owing $50,000 or less, you can often apply online. Direct debit plans are preferred and cheaper to set up.

• Offer in Compromise (OIC): Settle for less than the full amount if you truly can’t pay (must have filed all required returns first). Use the IRS OIC Pre-Qualifier tool.

• Currently Not Collectible: Temporary pause if you’re in genuine hardship.

• Penalty relief: First-Time Abate (or the newer Automatic Exemption from Penalty in some cases) or reasonable cause abatement may remove some penalties.

5. Practical next steps.

• Request free Wage & Income transcripts from https://t.co/Tk7zxYhwOI (or Form 4506-T) so you know exactly what the IRS already has.
• File even if you can’t pay — you can set up a plan after.
• Pay what you can as soon as possible; it reduces interest and shows good faith.
• Free help options: IRS Free File, Volunteer Income Tax Assistance (VITA) for lower-income taxpayers, or a trusted tax professional.
• Don’t ignore notices. Respond and act before collection escalates (liens, levies, wage garnishments).

*‼️Need help getting started? Drop a comment or DM me.

#taxes

[Jenkens Josinvil @jynxthemadstc]

1/7
Owe the IRS and can’t pay in full?
Most people either panic, ignore the notices, or fall for “settle for pennies” ads that rarely deliver.
There are legitimate ways to resolve tax debt — if you approach it correctly.
2/7
Step 1: Get current.
File every missing return. The IRS will not seriously negotiate with you while returns are outstanding.
Compliance is the price of admission for every relief option.
3/7
Your main options:
• Installment Agreement — Pay over time. Under $50k is often streamlined and can be set up online.
• Offer in Compromise — Settle for less than you owe (only if you truly can’t pay the full amount based on income + assets).
• Currently Not Collectible — Temporary pause if paying would leave you unable to cover basic living expenses.
Most people start (and end) with a payment plan.
4/7
What actually moves the needle:
• Know your exact balance (pull transcripts)
• Document income and necessary living expenses carefully
• Propose something realistic you can stick to
• Stay current on future filings and payments
The IRS follows formulas. Emotion doesn’t change the numbers.
5/7
Biggest mistakes I see:
❌ Ignoring notices
❌ Submitting a weak Offer in Compromise when you don’t qualify
❌ Agreeing to a payment plan you can’t afford long-term
❌ Paying random “tax relief” companies that overpromise
These usually make the situation worse and more expensive.
6/7
If your debt is larger, your finances are messy, or you’ve already received collection notices, trying to handle it alone often costs more in time, stress, and penalties.
This is the exact work I do with clients — cleaning up the books, identifying the right IRS program, and negotiating from a position of strength.
7/7
Owing the IRS doesn’t have to derail your finances.
If you want a clear-eyed look at your options (and which ones you actually qualify for), feel free to reach out. Happy to review your situation and map the smartest next step.

#taxes
#debt

[Jenkens Josinvil @jynxthemadstc]

I’m not sure if this is mid term bait or actually a promise to cut capital gains tax?

[Jenkens Josinvil @jynxthemadstc]

Backing up the truck!

[Jenkens Josinvil @jynxthemadstc]

@NADZOE93 Definitely! 1-2 more major shakeouts IMO. they can’t keep suppressing this asset for to long!

[Jenkens Josinvil @jynxthemadstc]

@Coachjv_ Siting in the woods eating a sandwich made from Publix. And Giving thanks to god!

[Jenkens Josinvil @jynxthemadstc]

@Gemini Telling them about XRP

[Jenkens Josinvil @jynxthemadstc]

@realcryptokween Facts! Instead of being mad or disappointed with this clarity act debacle, take your frustration out on finding creative ways to buy digital assets. Fuck it!

[Jenkens Josinvil @jynxthemadstc]

@NADZOE93 @NADZOE93 get that wine bottle, you deserve it! 🥂

[Jenkens Josinvil @jynxthemadstc]

@NADZOE93 Tax accountant, bookkeeper