Breaking: The IRS makes it hard to pretend you don’t have Bitcoin

FXStreet Team FXStreet

The cryptocurrency holders might have a hard time trying to hide their Bitcoins or other digital assets. The Internal Revenue Service considers changing the standard 1040 form by including a bold question on the front page:

At any time during 2020, did you sell, receive, send, exchange, or otherwise acquire any financial interest in any virtual currency?

The taxpayer must answer “Yes” or “No.”, the Wall Street Journal reports. Previously, cryptocurrencies were included on the part of the return, which is not filled by everyone. Now it will be placed right below the taxpayer’s name and address.

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FXStreet Team

FXStreet

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