The cases being built by the IRS reportedly involve crypto-to-fiat 'off-ramping' transactions, as well as individuals being paid in crypto.
The cases being built reportedly involve crypto-to-fiat “off-ramping” transactions, as well as individuals being paid in crypto."hundreds" of soon-to-be-public cases involving crypto, according to a Bloomberg Tax report citing division chief Jim Lee.
The cases being built reportedly involve crypto-to-fiat"off-ramping" transactions, as well as individuals being paid in crypto and not reporting it as income. The report follows news that the IRS was granted the power to issue a"John Doe" summons to M.Y. Safra Bank. This provided the tax authority with the ability tosaid
to"expect more" broad information requests to crypto exchanges — such as those previously seen involving Coinbase, Kraken and Circle.the tax authority is expecting a"more significant" hiring increase for the remainder of the fiscal year. © 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.By signing-up you agree to our
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