IRS and Virtual Currency

At any time during the year
“Did you receive, sell, send, exchange, or otherwise
acquire any financial interest in any virtual currency?”

This question is on the first page of your tax form (US).
And you need to answer it.

Globally, many tax authorities are not sure how to tax cryptocurrency.
We don’t have that problem here.
It’s classified as property.

Cryptocurrency transactions (related to tax evasion and dark web):
IRS (through its Criminal Investigation unit) is using #dataanalytics and #artificialintelligence to address both.
Transactions are traced across borders.
(Obviously these guys don’t believe in border walls 🤣 )

To accomplish this IRS works through groups such as J5 and others.

The goal?
Improved tax compliance.

(IRS is hiring tech experts: data scientists and behavioral scientists.
And individuals with significant cryptocurrency knowledge)

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Thanks for visiting.
Mariana Fieraru
Mariana Fieraru, an Eastern European transplant, fell in love with her new home shortly after landing in New York. She "discovered" pizza! Years later she still loves pizza. And so do her two feathered-kids, Sunny and Flipper

Mariana worked on both, the east and the west coast.
Big or small, each project she worked on helped define the importance of gaining and sustaining a competitive edge in an increasingly complex business environment.

Business know-how, love of teaching and writing – all combined in 2006 to form OBI.
Its mission: to make learning fun! And easy.

Through its training, consulting, and publications OBI builds bridges of knowledge to take you from where you are to
where you want to go. Using a mix of serious, informal, analytical, and optimistic approach, OBI truly makes learning fun.

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