What's New at the IRS

The IRS recently began its first solely crypto fraud criminal case. To date, our office has seen civil tax audits in this area. Prior to this time, criminal charges were connected with other criminal investigation issues such as money-laundering. The charge is based on the failure to report proceeds. The IRS stated "it was the first time someone was charged with solely failing to report or underreporting cryptocurrency earnings and gains on their tax filings.