After Threats, Crypto User Reports Reprieve From IRS

Law360 (November 13, 2019, 8:01 PM EST) -- The Internal Revenue Service recently provided tax refunds to some cryptocurrency users who complied with letters sent by the agency as part of a crackdown on reporting requirements, representatives of a software company told Law360 on Wednesday. 

Some cryptocurrency users who received letters from the IRS asking them to prove they had met cryptocurrency transaction reporting requirements received tax reductions and even refunds after providing the IRS with the details of trades, said CoinTracker co-founder Chandan Lodha and its tax strategy head, Shehan Chandrasekera. 

“For those cryptocurrency users who are willing to work with the IRS, the agency has shown that...

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