IRS Exam Teams Beginning to Work Cryptocurrency Tax Cases

The IRS is beginning to audit taxpayers with cryptocurrency assets, an agency official said.

“In our exam operations, we’re starting to work those cases,” Mary Beth Murphy, commissioner of the Internal Revenue Service Small Business/Self-Employed Division, said June 20 at a tax controversy forum hosted by the New York University School of Professional Studies.

• She also said that SB/SE is coordinating with the agency’s Large Business and International (LB&I) Division in determining how to proceed in cryptocurrency-related audits because more of those cases are cropping up.
• The IRS has identified a number of cryptocurrency tax cases using its ...