The Internal Revenue Service (IRS) are taking further measures to clamp down on crypto tax evaders
- U.S. tax authorities are stepping up their measures in clamping down on tax evaders.
- The new measures will be explored via the means of; family, friends, social media and electronic methods.
The United States IRS are implementing additional measures to clamp down Bitcoin tax evaders, which will be done through further surveillance.
In terms of the noted measures, they are set to include electronic surveillance of cryptocurrency traders. In addition, planning of bringing in family members through interviews and broaden the circle through; friends, social media, prior to issuing through electronic and digital means.
The new IRS regulatory measure would set to leverage on major companies such as; Apple, Google, and Microsoft during these investigations and the data gathered from these websites can potentially reveal information regarding tax evasion on Bitcoin and another cryptocurrency trading.
Author
Ken Chigbo
Independent Analyst
Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.
