United States Tax Agency Wants Cryptocurrency Holders to Pay Taxes

US Tax body Internal Revenue Services (IRS) is demanding that American Citizens who hold cryptocurrency deposits in their wallets be taxed. The tax agency sent warning letters to more than 10,000 cryptocurrency holders over failure to pay appropriate taxes or falsifying taxable income.

Cryptocurrency Users to be Taxed

The Internal Revenue Services (IRS), the government agency in charge of tax collection in the United States, wants cryptocurrency holders to pay taxes. IRS recently sent more than 10,000 emails to cryptocurrency users urging them to clear their tax balances. The letter also warned users who deliberately inaccurately reported possible taxable income from cryptocurrencies.

On Friday, the agency said taxpayers must take it’s letter very seriously and review their tax…