Tax
Jul. 31, 2019
IRS is beginning a crackdown on cryptocurrency tax compliance
By the end of August, more than 10,000 taxpayers will receive letters, targets the IRS says it obtained through various ongoing IRS compliance efforts.
Robert W. Wood
Managing Partner
Wood LLP
333 Sacramento St
San Francisco , California 94111-3601
Phone: (415) 834-0113
Fax: (415) 789-4540
Email: wood@WoodLLP.com
Univ of Chicago Law School
Wood is a tax lawyer at Wood LLP, and often advises lawyers and litigants about tax issues.
The IRS has begun sending letters to people with virtual currency transactions who may have failed to report income and pay taxes, or who did not report their transactions properly. By the end of August, more than 10,000 taxpayers will receive the letters, targets the IRS says it obtained through various ongoing IRS compliance efforts. According to the head of the IRS, Commissioner Chuck Rettig, "Taxpayers should take these letters very seriously by reviewing their ta...
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