IRS, Cryptocurrency Groups to Meet Amid Agency Enforcement Push

The IRS has invited cryptocurrency companies and advocates to a March 3 summit to discuss how the agency can “balance taxpayer service with regulatory enforcement,” according to a copy of the invitation obtained by Bloomberg Tax.

The summit will include four 90-minute panels on technology updates, issues for cryptocurrency exchanges, tax return preparation, and regulatory guidance and compliance, the email invitation said.

• The announcement comes as the IRS is trying to crack down on cryptocurrency tax evasion. The agency is also attempting to flesh out its guidance in this evolving area.
• Panelists from the private sector and the government “will share their views and engage with the audience, which will include IRS personnel from across the spectrum of tax administration, and individuals from other bureaus or offices within the Department of Treasury,” the invitation said.
• The IRS confirmed the validity of the email.