The U.S. Internal Revenue Service (IRS) has revealed the agency is cracking down on “dozens” of cryptocurrency users evading taxes. The IRS has partnered with tax agencies from four other countries in order to make sure tax enforcement strategies are being applied across the map.
Tax Agencies From 5 Countries Are Hunting Dozens of Tax Evaders Using Digital Currencies
According to the IRS, the tax agency is putting a significant amount of effort into fighting tax evasion that stems from cryptocurrency use. Speaking on a phone call with the press, a senior agent in the IRS’s Criminal Investigations office based in L.A., Ryan Korner, says when digital currencies became popularized, the tax agency had issues keeping up with alleged tax evaders. However, the IRS has gained “expertise” when it comes to individuals “moving the money.” “We have tools in place that we didn’t have six months or a year ago,” Korner told reporters on Friday. The revelation follows the IRS announcement at the end of July which explained that 10,000 American residents who have owned cryptocurrencies would receive warning letters from the U.S. tax entity. Then in
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