IRS’s First Crypto Tax Charge Signals Beefed-Up Enforcement Push

March 21, 2024

Crypto tax cheats just might have more to worry about this filing season as a newly confident IRS worked with the Department of Justice on the first standalone criminal charges for crypto tax fraud. The charge is being seen as a warning to those using cryptocurrency that the IRS is serious about cracking down on tax crimes in this space. Tricky Tax MathProving crypto tax fraud can be tricky. One lingering myth is that the government has no way to track crypto transactions, said Shehan Chandrasekera, head of Tax Strategy at CoinTracker. “They’re still convinced there’s a ton of underreporting going on.

The source of this news is from TaxBit