IRS Targets 10,000-Plus Crypto Users in Tax Compliance Campaign

July 26, 2019, 4:57 PM

The IRS will send letters by the end of August to more than 10,000 taxpayers it suspects have misreported their virtual currency transactions.

“Taxpayers should take these letters very seriously by reviewing their tax filings and when appropriate, amend past returns and pay back taxes, interest and penalties,” IRS Commissioner Chuck Rettig said in a July 26 news release.

  • Rettig said the agency is expanding its efforts to crack down on virtual currency users through methods such as greater use of data analytics. “We are focused on enforcing the law and helping taxpayers fully understand and meet their obligations,” he ...

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