H & R Block Offers Solutions for Taxpayers with Cryptocurrency Transactions

U.S-based accounting company H & R has started operating as a middleman between cryptocurrency users and the Internal Revenue Service (IRS) after the agency began sending letters to crypto traders who may not have reported their income and pay taxes.

Per a September 24 news release, H & R Block has launched a new service targeting folks who have engaged in crypto transactions, specifically offering consultations on how to properly file their crypto gains and losses on tax returns.

The IRS started by sending letters to around 10,000 cryptocurrency investors, ordering some to amend their tax filings, while urging others to pay back taxes and/or interest and penalties.

Similarly, the head of IRS, Commissioner Chuck Rettiq, said:

“Taxpayers should take these letters very seriously by reviewing their tax filings and when appropriate, amend past returns and pay back taxes, interest and penalties.

“The IRS is expanding our efforts involving virtual currency, including…