Boom in Bitcoin, Stock Market Triggers Explosion in 2021 Taxable Earnings

A clever little term is being joked around on social media this tax season to describe how tax preparers can break bad news to clients: Congratulations.

It’s a word you could offer, according to the Urban Dictionary, to a co-worker who has accepted a job promotion that is a mixed blessing. Say something that will move her up the ranks but clearly put her in more direct contact with a curmudgeonly colleague.

Congratulations for your success. Condolences for what is to come.

“Congratulations, congratulations.”

“I think I’m going to use it with clients who have to pay a big tax bill because they made a lot of money,” registered agent Matthew Cordes said in a cheerful tweet.

Staggering numbers for taxable income are being presented in front of investors and others who saw financial success in 2021, often to trigger fiscal scenarios and tax bills that many never imagined.

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