We are focused on enforcing the law and helping taxpayers fully understand and meet their obligations. By the end of August, more than 10, taxpayers will receive these letters.
The names of these taxpayers were obtained through various ongoing IRS compliance efforts. For taxpayers receiving an educational letter, there are three variations: LetterLetter or Letter A, all three versions strive to help taxpayers understand their tax and filing obligations and how to correct past errors.
- Virtual Currencies | Internal Revenue Service
- Care sunt principalele site-uri web de tranzacționare pentru criptomonede
Taxpayers are pointed to appropriate information on IRS. Last year the IRS announced a Virtual Currency Compliance campaign to address tax noncompliance related to the use of virtual currency through outreach and examinations of taxpayers.
The IRS will remain actively engaged in addressing non-compliance related to virtual currency transactions through a variety of efforts, ranging from taxpayer education to audits to criminal investigations.
IRS Notice PDF states that virtual currency is property for federal tax purposes and provides guidance on how general federal tax principles apply to virtual currency transactions.
Compliance efforts follow these general tax principles.
The IRS will continue to consider and solicit taxpayer and practitioner feedback in education efforts and future guidance. The IRS anticipates issuing additional legal guidance in this area in the near future. Taxpayers who do not properly report the income tax consequences of virtual currency transactions are, when appropriate, liable for tax, penalties and interest.
In some cases, taxpayers could be subject to criminal prosecution. Additional Information:.