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.
Improved tax compliance.
(IRS is hiring tech experts: data scientists and behavioral scientists.
And individuals with significant cryptocurrency knowledge)
Thanks for visiting.
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