Analysis

Amid Cryptocurrency Tax Questions, IRS Signals Enforcement

Law360 (September 5, 2019, 4:56 PM EDT) -- Despite calls for more guidance on the tax treatment of cryptocurrency, the IRS has begun a major initiative to ensure that cryptocurrency users pay their fair share of tax, signaling the agency's greater interest in enforcement in the area.

While the Internal Revenue Service hasn't released cryptocurrency guidance since 2014, and investors lack answers to important and basic questions, the agency has sent letters to some users about their tax obligations. (Getty) Internal Revenue Service Commissioner Chuck Rettig has promised guidance to clarify some of cryptocurrency users' most pressing tax questions. That guidance has not yet been released, but in a move that...

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