10 Nov IRS Discovers New Ways to Catch Cryptocurrency Tax Evaders
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The United States’ Internal Revenue Service (IRS) says that a recent meeting with other global tax authorities has given it much deeper insight into how to track those using cryptocurrency to avoid paying taxes. The meeting comes as part of a renewed effort from the IRS to clamp down on tax avoidance facilitated by digital currency.
Collectively known as the Joint Chiefs of Global Tax Enforcement, representatives of tax authorities from the US, UK, Australia, Canada, and the Netherlands shared their own experiences dealing with the issue of cryptocurrency tax avoidance at the recent forum. The IRS now believes it is more equipped than previously to go after those attempting to hide from the taxman under the guise of cryptocurrency.
“Dozens” of Suspects
The authority claims to have identified “dozens” of suspects thanks to its new knowledge. Bloomberg cites special agent at the IRS’s Criminal Investigations office Ryan Korner. He commented the following on the meeting:
“We…
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