Posted 4/14/2024, 4:56:21 PM
IRS Braces for Rise in Crypto Tax Evasion Amid Uptick in Tracking Tools and Crimes
- IRS anticipates more crypto tax violation cases amid increase in such crimes
- Crypto crimes include not reporting crypto income or hiding/shielding basis to avoid taxes
- Public-private partnerships with firms like Chainalysis critical to tracking crypto crimes
- Chainalysis provides tools and expertise to help law enforcement trace crypto ownership
- IRS agents can leverage Chainalysis tools to determine if crypto tax crimes have occurred
