IRS To Start Enforcing Crypto Withholding Rule, Panelist Says

Law360, Washington (May 12, 2018, 2:34 PM EDT) -- The Internal Revenue Service will begin this year to more strictly enforce the requirement to withhold taxes for cryptocurrency payments to nonresident aliens, an attorney who has represented clients in related matters said at a Saturday tax conference in Washington, D.C.

While the requirement to withhold 30 percent of payments to nonresident aliens is already in the tax code, the IRS will start more strictly enforcing that rule for payments that use cryptocurrencies, Bryan Skarlatos, attorney at Kostelanetz & Fink LLP, said at an American Bar Association Section of Taxation conference.

Greater enforcement of the tax withholding penalty is likely to...

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