Looks like the IRS is coming after crypto traders evidenced by a recent mailing they’re sending.
Any Coinbase customers get this in the mail? Looks like that’s where it might be originating from.
This was on Bloomberg last night oddly enough. Apparently it’s about 10 000 people or something (to begin with anyway).
And that article is a bit sketchy. Whoever the dude was from the IRS that was being interviewed categorically stated that no amnesty would be applicable. From what I gathered there is some or the other clause in the legislation that would allow some leeway if the taxpayer made a mistake or something but it is not applicable where this is concerned apparently.
But 10 000 seems like a very small number to me. Wonder what the selection criteria is.
With such a low number, maybe it’s the total amount of currencies traded. I can’t imagine the IRS caring about a $100 trade here or a $50 trade there.
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Great explanation of what’s needed by US crypto traders who received these letters from the IRS.