IRS Team Reports Increase in Cryptocurrency Tax Investigations

According to has THE tax year 2023 report, THE IRS unit investigation chess has disclose crypto assets And report on capital earnings For transactions.

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THE Criminal Investigation (THIS) Unit of THE United Internal Income Service (IRS) reported A increase In THE number of investigations around digital active report.

In It is annual report released on Dec. 4, THE IRS investigator arm said he had initiated more that 2,676 case In which he had identified more that $37 billion related has tax And financial crimes In THE 2023 tax year. According to has THE team, he had observed A increase to use of digital assets, resulting In A increase of related tax surveys.

"These investigations consist of not reported income resulting Since failure has report capital earnings Since THE sale of cryptocurrency, income won Since mining cryptocurrency, Or income received In THE form of cryptocurrency, such as wages, rent income, And gambling earnings," said THE Criminal Investigation Unit. "THIS East Also seeing escape of payment violations, Or THE taxpayer failed has disclose ownership of cryptocurrency In A attempt has shield assets. »

OUR EX23 Annual Report strong points more that 2,600 the surveys, $37.1 billion identified Since tax And financial crimes. #CIHR #ByNumbers#WhatWeDoCounts https://t.co/B1hZw8ClXm pic.twitter.com/EZWQKNB2uu

— IRS Criminal Investigation (@IRS_CI)