IRS’s ‘Operation Hidden Treasure’ Focusing on Crypto Fraud

The IRS’s Fraud Enforcement Office, in an effort known as “operation hidden treasure,” is tracing cryptocurrency transactions to find people who are omitting crypto-related income from their tax returns, agency officials said.

The project exists within the office’s emerging threats mitigation team, Damon Rowe, executive director of the Fraud Enforcement Office, said Friday during a virtual tax conference hosted by the Federal Bar Association.

• The agency’s Criminal Investigation division has been sharing its technology and expertise with the office to address potential cryptocurrency tax evasion, Rowe said.
• The Fraud Enforcement Office employees are also participating in virtual ...