• 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.

 

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

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