The United States Internal Revenue Service is plėtoti “hundreds” of soon-to-be-public cases involving crypto, according to a Bloomberg Tax report citing division chief Jim Lee.
The cases being built reportedly involve crypto-to-fiat “off-ramping” transactions, as well as individuals being paid in crypto and not reporting it as income.
The report follows news that the IRS was granted the power to issue a “John Doe” summons to M.Y. Safra Bank. This provided the tax authority with the ability to gauti data on customers of the bank’s partner and crypto prime broker, SFOX.
In March, an IRS official sakė to “expect more” broad information requests to crypto exchanges — such as those previously seen involving Coinbase, Kraken and Circle.
The IRS has notably made clear its plans to ramp up hiring across the agency. Lee has now sakė the tax authority is expecting a “more significant” hiring increase for the remainder of the fiscal year.
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Source: https://www.theblock.co/post/182961/irs-hundreds-crypto-cases-hiring?utm_source=rss&utm_medium=rss